https://www.taxtmi.com/caselaws?id=19989 Chapter XX-C pre-emptive purchase could not be exercised after the mandatory statutory period for an order had expired; a direction for fresh consideration did not revive lapsed power. Its application was also inappropriate to a religious denomination's judicially approved lease transaction serving religious objects, where no tax-evasion motive could realistically be attributed and intervention would affect religious freedom and property management. Further, a lease consideration comprising future construction, monthly payments and other in-specie obligations could not be reduced to a workable present monetary value. The computation machinery therefore failed, making pre-emptive purchase unavailable; statutory clearance and consequential relief followed. en-us Wed, 05 Jan 1994 00:00:00 +0530 Wed, 11 Nov 2009 10:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19989 Chapter XX-C pre-emptive purchase could not be exercised after the mandatory statutory period for an order had expired; a direction for fresh consideration did not revive lapsed power. Its application was also inappropriate to a religious denomination's judicially approved lease transaction serving religious objects, where no tax-evasion motive could realistically be attributed and intervention would affect religious freedom and property management. Further, a lease consideration comprising future construction, monthly payments and other in-specie obligations could not be reduced to a workable present monetary value. The computation machinery therefore failed, making pre-emptive purchase unavailable; statutory clearance and consequential relief followed. Case-Laws Income Tax Wed, 05 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19989