https://www.taxtmi.com/caselaws?id=22090 The court held that the appropriate authority must record reasons for exercising the pre-emptive purchase right but is not required to communicate these reasons to the transferor to prevent arbitrariness. The principles of natural justice do not apply to orders passed by the authority under the relevant statute. The court clarified the definition of "apparent consideration" and allowed the deduction of tax liability from consideration. The court also determined the interpretation of the "appropriate authority" and addressed the issuance of a no objection certificate. The court dismissed one appeal and allowed another, granting leave to appeal to the Supreme Court due to significant legal issues. en-us Fri, 23 Aug 1991 00:00:00 +0530 Mon, 07 Dec 2009 10:31:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22090 The court held that the appropriate authority must record reasons for exercising the pre-emptive purchase right but is not required to communicate these reasons to the transferor to prevent arbitrariness. The principles of natural justice do not apply to orders passed by the authority under the relevant statute. The court clarified the definition of "apparent consideration" and allowed the deduction of tax liability from consideration. The court also determined the interpretation of the "appropriate authority" and addressed the issuance of a no objection certificate. The court dismissed one appeal and allowed another, granting leave to appeal to the Supreme Court due to significant legal issues. Case-Laws Income Tax Fri, 23 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22090