India - Income Tax Act 2010 - Saarc

1.897 CH. XX-C - PURCHASE OF IMMOVABLE PROPERTIES S. 269UEthe property, the transferee and to every other person whom the appropriateauthority knows to be interested 86 in the property.(1B) Every order made by the appropriate authority under sub-section (1) shallspecify the grounds on which it is made.](2) The appropriate authority shall cause a copy of its order under sub-section(1) in respect of any immovable property to be served on the transferor, theperson in occupation of the immovable property if the transferor is not inoccupation thereof, the transferee, and on every other person whom theappropriate authority knows to be interested in the property.Vesting of property in Central Government.269UE. (1) Where an order under sub-section (1) of section 269UD is made bythe appropriate authority in respect of an immovable property referredto in sub-clause (i) of clause (d) of section 269UA, such property shall, on the dateof such order, vest in the Central Government 87 [in terms of the agreement fortransfer 88 referred to in sub-section (1) of section 269UC] :89[Provided that where the appropriate authority, after giving an opportunity ofbeing heard to the transferor, the transferee or other persons interested in thesaid property, under sub-section (1A) of section 269UD, is of the opinion that anyencumbrance on the property or leasehold interest specified in the aforesaidagreement for transfer is so specified with a view to defeat the provisions of thisChapter, it may, by order, declare such encumbrance or leasehold interest to bevoid and thereupon the aforesaid property shall vest in the Central Governmentfree from such encumbrance or leasehold interest.](2) The transferor or any other person who may be in possession of theimmovable property in respect of which an order under sub-section (1) of section269UD is made, shall surrender or deliver possession thereof to the appropriateauthority or any other person duly authorised by the appropriate authority in thisbehalf within fifteen days of the service of such order on him :90[Provided that the provisions of this sub-section and sub-sections (3) and (4)shall not apply where the person in possession of the immovable property, inrespect of which an order under sub-section (1) of section 269UD is made, is abona fide holder of any encumbrance on such property or a bona fide lessee ofsuch property, if the said encumbrance or lease has not been declared void underthe proviso to sub-section (1) and such person is eligible to continue in possessionof such property even after the transfer in terms of the aforesaid agreement fortransfer.](3) If any person refuses or fails to comply with the provisions of sub-section (2),the appropriate authority or other person duly authorised by it under that sub-86. For the meaning of the expression “person . . . interested”, see Taxmann’s Direct TaxesManual, Vol. 3.87. Substituted for “free from all encumbrances” by the Finance Act, 1993, w.r.e.f. 17-11-1992.88. For the meaning of the expression “in terms of the agreement for transfer”, see Taxmann’sDirect Taxes Manual, Vol. 3.89. Inserted by the Finance Act, 1993, w.r.e.f. 17-11-1992.90. Inserted, ibid.