Section 269UH of Income Tax Act "Re-vesting of property in the transferor on failure of payment or deposit of consideration"
Section 269UH. (1) If the Central Government fails to tender under sub-section (1) of section 269UG or deposit under sub-section (2) or sub-section (3) of the said section, the whole or any part of the amount of consideration required to be tendered or deposited thereunder within the period specified therein in respect of any immovable property which has vested in the Central Government under sub-section (1) or, as the case may be, sub-section (6) of section 269UE, the order to purchase the immovable property by the Central Government made under sub-section (1) of section 269UD shall stand abrogated and the immovable property shall stand re-vested in the transferor after the expiry of the aforesaid period :
Provided that where any dispute referred to in sub-section (2) or sub-section (3) of section 269UG is pending in any court for decision, the time taken by the court to pass a final order under the said sub-sections shall be excluded in computing the said period.
(2) Where an order made under sub-section (1) of section
269UD is abrogated and the immovable property re-vested in
the transferor under sub-section (1), the appropriate
authority shall make, as soon as may be, a declaration in
writing to this effect and shall-
(a) deliver a copy of the declaration to the persons mentioned in sub-section (2) of section 269UD ; and
(b) deliver or cause to be delivered possession of the immovable property back to the transferor, or, as the case may be, to such other person as was in possession of the property at the time of its vesting in the Central Government under section 269UE.
Section 269UI of Income Tax Act "Powers of the appropriate authority"
Section 269UI. The appropriate authority shall have, for the purposes of this Chapter, all the powers that a 82[Principal Chief Commissioner or] Chief Commissioner or 82[Principal Commissioner or] Commissioner of Income-tax has for the purposes of this Act under section 131.
What is Rectification of mistakes? What is Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property.? Section 269UJ and 269UK of Income Tax Act 1961
What is Restrictions on registration, etc., of documents in respect of transfer of immovable property? What is Immunity to transferor against claims of transferee for transfer? Section 269UL and 269UM of Income Tax Act 1961
What is Order of appropriate authority to be final and conclusive? What is Chapter not to apply to certain transfers? What is the meaning Chapter not to apply where transfer of immovable property effected after certain date Section 269UN, 269UO and 269UP of Income Tax Act 1961