{"act":{"id":"finance-act-1993","short_title":"The Finance Act, 1993","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1993-1994.","act_number":"38","act_year":1993,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":43,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1993/"},"unit":"section","section":{"number":"35","heading":"Amendment of section 269UE","text":"Amendment of section 269UE. 35. In section 269UE of the Income-tax Act,— (a) in sub-section (1),— (i) for the words \"free from all encumbrances\", the words, brackets, figures and letters \"in terms of the agreement for transfer referred to in sub-section (1) of section 269UC\" shall be substituted and shall be deemed to have been substituted with effect from the 17th day of November, 1992; (ii) the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 17th day of November, 1992, namely:— \"Provided that where the appropriate authority, after giving an opportunity of being heard to the transferor, the transferee or other persons interested in the said property, under sub-section (1A) of section 269UD, is of the opinion that any encumbrance on the property or leasehold interest specified in the aforesaid agreement for transfer is so specified with a view to defeat the provisions of this Chapter, it may, by order, declare such encumbrance or leasehold interest to be void and thereupon the aforesaid property shall vest in the Central Government free from such encumbrance or leasehold interest.\"; (b) in sub-section (2), the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 17th day of November, 1992, namely:— \"Provided that the provisions of this sub-section and subsections (3) and (4) shall not apply where the person in possession of 4he immovable property, in respect of which an order under sub-section (1) of section 269UD is made, is a bona fide holder of any encumbrance on such property or a bona fide lessee of such property, if the said encumbrance or lease has not been declared void under the proviso to sub-section (1) and such person is eligible to continue in possession of such property even after the transfer in terms of the aforesaid agreement for transfer.\". [Finance Act, 1993] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 269UE.</b></p><p><b>35.</b> In section 269UE of the Income-tax Act,—</p><p>(<i>a</i>) in sub-section (<i>1</i>),—</p><p>(<i>i</i>) for the words \"free from all encumbrances\", the words, brackets, figures and letters \"in terms of the agreement for transfer referred to in sub-section (<i>1</i>) of section 269UC\" shall be substituted and shall be deemed to have been substituted with effect from the 17th day of November, 1992;</p><p>(<i>ii</i>) the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 17th day of November, 1992, namely:—</p><p>\"Provided that where the appropriate authority, after giving an opportunity of being heard to the transferor, the transferee or other persons interested in the said property, under sub-section <i>(1A)</i> of section 269UD, is of the opinion that any encumbrance on the property or leasehold interest specified in the aforesaid agreement for transfer is so specified with a view to defeat the provisions of this Chapter, it may, by order, declare such encumbrance or leasehold interest to be void and thereupon the aforesaid property shall vest in the Central Government free from such encumbrance or leasehold interest.\";</p><p>(<i>b</i>) in sub-section (<i>2</i>), the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 17th day of November, 1992, namely:—</p><p>\"Provided that the provisions of this sub-section and subsections <i>(3)</i> and (<i>4</i>) shall not apply where the person in possession of 4he immovable property, in respect of which an order under sub-section (<i>1</i>) of section 269UD is made, is a <i>bona fide</i> holder of any encumbrance on such property or a <i>bona fide</i> lessee of such property, if the said encumbrance or lease has not been declared void under the proviso to sub-section (<i>1</i>) and such person is eligible to continue in possession of such property even after the transfer in terms of the aforesaid agreement for transfer.\".</p><p>[Finance Act, 1993]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":321,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1993/section/35/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}