https://www.taxtmi.com/caselaws?id=20019 Pre-emptive purchase under Chapter XX-C was held inapplicable to a bona fide public auction of trust property where the sale was publicly advertised, the highest bid reflected market value, and no fraud or material undervaluation was shown. The notice issued before action under section 269UD(1) was also held defective because it did not disclose the material relied upon or the provisional grounds for proposed purchase, denying a meaningful opportunity to respond. On that basis, the compulsory purchase order was quashed and the no objection certificate was directed to be issued. en-us Thu, 05 May 1994 00:00:00 +0530 Wed, 11 Nov 2009 11:41:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20019 Pre-emptive purchase under Chapter XX-C was held inapplicable to a bona fide public auction of trust property where the sale was publicly advertised, the highest bid reflected market value, and no fraud or material undervaluation was shown. The notice issued before action under section 269UD(1) was also held defective because it did not disclose the material relied upon or the provisional grounds for proposed purchase, denying a meaningful opportunity to respond. On that basis, the compulsory purchase order was quashed and the no objection certificate was directed to be issued. Case-Laws Income Tax Thu, 05 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20019