https://www.taxtmi.com/caselaws?id=21688 The court ruled in favor of the petitioners, declaring the appropriate authority's decision regarding the transfer of immovable property exceeding five lakh rupees as incorrect and unsustainable. The court emphasized that the authority had exceeded its jurisdiction by considering extraneous factors and failing to make a timely decision, thereby granting the petitioners the right to receive a no objection certificate for the property transfer. The court directed the authority to issue the certificate promptly and adhere to its defined jurisdiction in future cases, underscoring the importance of complying with statutory procedures under the Income-tax Act. en-us Mon, 11 Mar 1991 00:00:00 +0530 Thu, 26 Nov 2009 17:21:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21688 The court ruled in favor of the petitioners, declaring the appropriate authority's decision regarding the transfer of immovable property exceeding five lakh rupees as incorrect and unsustainable. The court emphasized that the authority had exceeded its jurisdiction by considering extraneous factors and failing to make a timely decision, thereby granting the petitioners the right to receive a no objection certificate for the property transfer. The court directed the authority to issue the certificate promptly and adhere to its defined jurisdiction in future cases, underscoring the importance of complying with statutory procedures under the Income-tax Act. Case-Laws Income Tax Mon, 11 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21688