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

Rectification of mistakes and Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property. are defined under section 269UJ and 269UK of Income Tax Act 1961. Provisions under these Sections are:

Section 269UJ of Income Tax Act "Rectification of mistakes"

Section 269UJ. With a view to rectifying any mistake apparent from the record, the appropriate authority may amend any order made by it under this Chapter, either on its own motion or on the mistake being brought to its notice by any person affected by the order :

Provided that if any such amendment is likely to affect any person prejudicially, it shall not be made without giving to such person a reasonable opportunity of being heard :

Provided further that no amendment shall be made under this section after the expiry of six months from the end of the month in which the order sought to be amended was made.

 

Section 269UK of Income Tax Act "Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property"

Section 269UK. (1) Notwithstanding anything contained in any other law for the time being in force, no person shall revoke or alter an agreement for the transfer of an immovable property or transfer such property in respect of which a statement has been furnished under section 269UC unless,-

(a) the appropriate authority has not made an order for the purchase of the immovable property by the Central Government under section 269UD and the period specified for the making of such order has expired ; or

(b) in a case where an order for the purchase of the immovable property by the Central Government has been made under sub-section (1) of section 269UD, the order stands abrogated under sub-section (1) of section 269UH.

(2) Any transfer of any immovable property made in contravention of the provisions of sub-section (1) shall be void.

Home     About Us     Privacy Policy     Disclaimer     Sitemap