2003 (10) TMI 11

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.... has inter alia, challenged the order dated December 15, 1986, passed by the appropriate authority under sub-section (1) of section 269UD of the Income-tax Act, 1961. Although the petitioner has also challenged vires of some Income-tax Rules as well as the provisions of the Income-tax Act, that challenge was not pressed before us and the challenge was confined to the validity of the aforesaid orde....

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....s in respect of the said apartment with effect from the date of the execution of the agreement. As stated above, although a number of prayers are made in the writ petition the only argument advanced by learned counsel for the petitioner was that the provisions of Chapter XX-C of the Act apply only to the agreement for transfer made on or after October 1, 1986, and these provisions would not app....

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....elhi), this court came to the conclusion that the provisions of Chapter XX-C of the Act shall not apply to the agreement for transfer. That the provisions of Chapter XX-C and rule 48L of the Income-tax Rules would not have retrospective effect as in those cases transfer was complete prior to October 1, 1986, such provisions had no application. It was held: (i) that since the transaction by the ....