Section 269UF
Consideration for purchase of immovable property by Central Government. Repealed
About this Act
An Act to consolidate and amend the law relating to income-tax and super-tax
(1)
Where an order for the purchase of any immovable property by the Central Government is made under
sub-section (1) of section 269UD, the Central Government shall pay, by way of consideration for such
purchase, an amount equal to the amount of the apparent consideration.
(2) Notwithstanding anything contained in sub-section (1), where, after the agreement for the transfer of the immovable property referred to in that sub-section has been made but before the property vests in the Central Government under section 269UE, the property has been damaged (otherwise than as a result of normal wear and tear), the amount of the consideration payable under that sub-section shall be reduced by such sum as the appropriate authority, for reasons to be recorded in writing, may by order determine.
(2) Notwithstanding anything contained in sub-section (1), where, after the agreement for the transfer of the immovable property referred to in that sub-section has been made but before the property vests in the Central Government under section 269UE, the property has been damaged (otherwise than as a result of normal wear and tear), the amount of the consideration payable under that sub-section shall be reduced by such sum as the appropriate authority, for reasons to be recorded in writing, may by order determine.