Chapter not to apply where transfer of immovable property effected after certain date The provisions of this Chapter shall not apply to, or in relation to, the transfer of any immovable property effected on or after the 1st day of July, 2002. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing […]

Immunity from imposition of penalty, etc (1) An assessee may make an application to the Assessing Officer to grant immunity from imposition of penalty under section 270A and initiation of proceedings under section 276C or section 276CC, if he fulfils the following conditions, namely:— (a)  the tax and interest payable as per the order of assessment or reassessment under sub-section

Chapter not to apply to certain transfers The provisions of this Chapter shall not apply to or in relation to any immovable property where the agreement for transfer of such property is made by a person to his relative on account of natural love and affection, if a recital to that effect is made in

Section 270A of the Income Tax Act (now to be replaced by Section 439 of Income Tax Act, 2025 with effect from 01.04.2026) establishes provisions for penalties in cases where a taxpayer under-reports their income. It outlines various scenarios where income is considered under-reported, such as discrepancies between assessed and declared income, or misreporting of financial facts.

Order of appropriate authority to be final and conclusive Save as otherwise provided in this Chapter, any order made under sub- section (1) of section 269UD or any order made under sub-section (2) of section 269UF shall be final and conclusive and shall not be called in question in any proceeding under this Act or under any other law

Immunity to transferor against claims of transferee for transfer Notwithstanding anything contained in any other law or in any instrument or any agreement for the time being in force, when an order for the purchase of any immovable property by the Central Government is made under this Chapter, no claim by the transferee shall lie

Restrictions on registration, etc., of documents in respect of transfer of immovable property (1) Notwithstanding anything contained in any other law for the time being in force, no registering officer appointed under the Registration Act, 1908 (16 of 1908), shall register any document which purports to transfer immovable property exceeding the value prescribed under section 269UC unless

Payment or deposit of consideration (1) The amount of consideration payable in accordance with the provisions of section 269UF shall be tendered to the person or persons entitled thereto, within a period of one month from the end of the month in which the immovable property concerned becomes vested in the Central Government under sub-section (1), or,

Vesting of property in Central Government (1) Where an order under sub-section (1) of section 269UD is made by the appropriate authority in respect of an immovable property referred to in sub-clause (i) of clause (d) of section 269UA, such property shall, on the date of such order, vest in the Central Government in terms of the agreement

Restrictions on revocation or alteration of certain agreements for the transfer of immovable property or on transfer of certain immovable property (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