India - Income Tax Act 2010 - Saarc

S. 269B I.T. ACT, 1961 1.87622(2) Every statement in respect of a transaction referred to in sub-section (1)shall—(a) be in the prescribed form ;(b) set forth such particulars as may be prescribed ; and(c) be verified in the prescribed manner,and registered with the competent authority, in such manner and within suchtime as may be prescribed, by each of the parties to such transaction or by anyof the parties to such transaction acting on behalf of himself and on behalf of theother parties.]23Competent authority.269B. 24 (1) The Central Government may, by general or special order publishedin the Official Gazette,—(a) authorise as many 25 [ 26 [Joint] Commissioners], as it thinks fit, toperform the functions of a competent authority under this Chapter ;and(b) define the local limits within which the competent authorities shallperform their functions under this Chapter.(2) In respect of any function to be performed by a competent authority underany provision of this Chapter in relation to any immovable property referred toin section 269C, the competent authority referred to therein shall,—(a) in a case where such property is situate within the local limits of thejurisdiction of only one competent authority, be such competentauthority ;(b) in a case where such property is situate within the local limits of thejurisdiction of two or more competent authorities, be the competentauthority empowered to perform such functions in relation to suchproperty in accordance with rules made in this behalf by the Boardunder section 295.27[Explanation.—For the purposes of this sub-section, immovable property, beingrights of the nature referred to in clause (b) of sub-section (1) of section 269ABin, or with respect to, any building or part of a building which has beenconstructed or which is to be constructed shall be deemed to be situate at theplace where the building has been constructed or is to be constructed.](3) No person shall be entitled to call in question the jurisdiction of a competentauthority in respect of any immovable property after the expiry of thirty daysfrom the date on which such competent authority initiates proceedings undersection 269D for the acquisition of such property.22. See rule 48DD and Form No. 37EE.23. See rule 48D.24. For authorisation of Deputy Commissioner of Income-tax to perform functions ofcompetent authority under Chapter XXA, see Taxmann’s Direct Taxes Circulars.25. Substituted for “Assistant Commissioners of Income-tax” by the Direct Tax Laws (Amendment)Act, 1989, w.r.e.f. 1-4-1988.26. Substituted for “Deputy” by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998.27. Inserted by the Income-tax (Amendment) Act, 1981, w.e.f. 1-7-1982.