https://www.taxtmi.com/caselaws?id=19516 A show-cause notice issued under section 269UD had to disclose the grounds for the proposed pre-emptive purchase, the material relied upon, and any prima facie view of undervaluation so the transferor and transferee could meaningfully meet the case against them. A bare direction to reply to proposed action under Chapter XX-C was insufficient because it did not tell the affected parties what they had to answer or allow them to controvert the basis of the proposed acquisition. On that reasoning, the notice was held vague and invalid, and the order passed under section 269UD(1) could not be sustained. en-us Thu, 05 May 1994 00:00:00 +0530 Fri, 06 Nov 2009 16:42:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19516 A show-cause notice issued under section 269UD had to disclose the grounds for the proposed pre-emptive purchase, the material relied upon, and any prima facie view of undervaluation so the transferor and transferee could meaningfully meet the case against them. A bare direction to reply to proposed action under Chapter XX-C was insufficient because it did not tell the affected parties what they had to answer or allow them to controvert the basis of the proposed acquisition. On that reasoning, the notice was held vague and invalid, and the order passed under section 269UD(1) could not be sustained. Case-Laws Income Tax Thu, 05 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19516