IT Act 269Cअध्याय XX · A [ Inserted by Act 45 of 1972, Section 4 (w.e.f. 15.11.1972).] Acquisition Of Immovable Properties In Certain Cases Of Transfer To Counteract Evasion Of Tax
धारा 269C · Immovable property in respect of which proceedings for acquisition may be taken
अक्षर आकार — स्तर 1, कुल 4 में से
(1)
Where the competent authority has reason to believe that any immovable property of a fair market value exceeding [one hundred thousand rupees] [ Substituted by Act 21 of 1984, Section 25, for " twenty-five rupees" (w.e.f. 1.6.1984).] has been transferred by a person (hereafter in this Chapter referred to as the transferor) to another person (hereafter in this Chapter referred to as the transferee) for an apparent consideration which is less than the fair market value of the property and that the consideration for such transfer as agreed to between the parties has not been truly stated in the instrument of transfer with the object of-(a)
facilitating the reduction or evasion of the liability of the transferor to pay tax under this Act in respect of any income arising from the transfer; or(b)
facilitating the concealment of any income or any moneys or other assets which have not been or which ought to be disclosed by the transferee for the purposes of the Indian Income-tax Act, 1922 (11 of 1922), or this Act or the Wealth-tax Act, 1957 (27 of 1957), the competent authority may, subject to the provisions of this Chapter, initiate proceedings for the acquisition of such property under this Chapter:(2)
In any proceedings under this Chapter in respect of any immovable property,-(a)
where the fair market value of such property exceeds the apparent consideration therefor by more than twenty-five per cent. of such apparent consideration, it shall be conclusive proof that the consideration for such transfer as agreed to between the parties has not been truly stated in the instrument of transfer;(b)
where the property has been transferred for an apparent consideration which is less than its fair market value, it shall be presumed, unless the contrary is proved, that the consideration for such transfer as agreed to between the parties has not been truly stated in the instrument of transfer with such object as is referred to in clause (a) or clause (b) of sub-section (1).इस धारा पर आपका निजी नोट
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