Section 269UFCentral Act

Section 269UF: Consideration for purchase of immovable property by Central Government

The Income-tax Act, 1961

Consideration for purchase of immovable property by Central Government.

(1)

Where an order for the purchase of any immovable property by the Central Government is made under sub-section (1) of section 269-UD, 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 269-UE, 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.

Sec 269UE — Vesting of property in Central Government

Sec 269UG — Payment or deposit of consideration

Disclaimer: This section is reproduced for general informational and reference purposes only. Always verify against the latest official gazette and consult a qualified advocate before relying on any provision.