India - Income Tax Act 2010 - Saarc

1.879 CH. XX-A - ACQUISITION OF IMMOVABLE PROPERTIES S. 269Fproperty and also by making known in such manner as may beprescribed the substance of such notice at convenient places inthe said locality.34[Explanation.—The provisions of the Explanation to sub-section (2) of section269B shall apply for the purposes of this sub-section as they apply for thepurposes of that sub-section.]Objections.269E. (1) Objections against the acquisition of the immovable property inrespect of which a notice has been published in the Official Gazette undersub-section (1) of section 269D may be made—(a) by the transferor or the transferee or any other person referred to inclause (a) of sub-section (2) of that section, within a period of forty-fivedays from the date of such publication or a period of thirty days fromthe date of service of notice on such person under the said clause,whichever period expires later ;(b) by any other person interested in such immovable property, withinforty-five days from the date of such publication.(2) Every objection under sub-section (1) shall be made to the competentauthority in writing.(3) For the removal of doubts, it is hereby declared that objection may be madeunder sub-section (1) that the provisions of clause (a) of sub-section (2) ofsection 269C do not apply in relation to any immovable property on the groundthat the fair market value of such property does not exceed the apparentconsideration therefor by more than twenty-five per cent of such apparentconsideration.Hearing of objections.269F. (1) The competent authority shall fix a day and place for the hearing ofthe objections made under section 269E against the acquisition under thisChapter of any immovable property, and shall give notice of the same to everyperson who has made such objection :Provided that such notice shall also be given to the transferee of such propertyeven if he has not made any such objection.(2) Every person to whom a notice is given under sub-section (1) shall have theright to be heard at the hearing of the objections.(3) The competent authority shall have the power to adjourn the hearing of theobjections from time to time.(4) The competent authority may, before disposing of the objections, make suchfurther inquiry as he thinks fit.(5) The decision of the competent authority in respect of the objections heardshall be in writing and shall state the reasons for the decision with respect to eachobjection.(6) If after hearing the objections, if any, and after taking into account all therelevant material on record, the competent authority is satisfied that,—34. Inserted by the Income-tax (Amendment) Act, 1981, w.e.f. 1-7-1982.