Income Tax Act, 2025
Section 5: Ins. by s. 3,ibid. (w.e.f. 11982).
5. Ins. by s. 3,ibid. (w.e.f. 11982).
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(b) set forth such particulars as may be prescribed ; and
(c) be verified in the prescribed manner,
and registered with the competent authority, in such manner and within such time as may be prescribed,
by each of the parties to such transaction or by any of the parties to such transaction acting on behalf of
himself and on behalf of the other parties.]
269B.Competent authority.—(1) The Central Government may, by general or special order
published in the Official Gazette,
(a) authorise as many 1[ 2[Joint Commissioners], as it thinks fit, to perform the functions of a
competent authority under this Chapter ; and
(b) define the local limits within which the competent authorities shall perform their functions
under this Chapter.
(2) In respect of any function to be performed by a competent authority under any provision of this
Chapter in relation to any immovable property referred to in section 269C, the competent authority
referred to therein shall,—
(a) in a case where such property is situate within the local limits of the jurisdiction of only one
competent authority, be such competent authority ;
(b) in a case where such property is situate within the local limits of the jurisdiction of two or
more competent authorities, be the competent authority empowered to perform such functions in
relation to such property in accordance with rules made in this behalf by the Board under section 295.
3[Explanation.—For the purposes of this sub-section, immovable property, being rights of the nature
referred to in clause (b) of sub-section (1) of section 269AB in, or with respect to, any building or part of
a building which has been constructed or which is to be constructed shall be deemed to be situate at the
place where the building has been constructed or is to be constructed.]
(3) No person shall be entitled to call in question the jurisdiction of a competent authority in respect
of any immovable property after the expiry of thirty days from the date on which such competent
authority initiates proceedings under section 269D for the acquisition of such property.
(4) Subject to the provisions of sub-section (3), where the jurisdiction of a competent authority is
questioned, the competent authority shall, if satisfied with the correctness of the claim, by order in
writing, determine the question accordingly and if he is not so satisfied, he shall refer the question to the
Board and the Board shall, by order in writing, determine the question.
269C. Immovable property in respect of which proceedings for acquisition may be taken.—(1)
Where the competent authority has reason to believe that any immovable property of a fair market value
exceeding 4[one hundred thousand rupees] has been transferred by a person (hereafter in this Chapter
referred to as the transferor) to another person (hereafter in this Chapter referred to as the transferee) for
an apparent consideration which is less than the fair market value of the property and that the
consideration for such transfer as agreed to between the parties has not been truly stated in the instrument
of transfer with the object of—
(a) facilitating the reduction or evasion of the liability of the transferor to pay tax under this Act
in respect of any income arising from the transfer ; or
1. Subs. by Act 3 of 1989, s. 49, for “Assistant Commissioners of Income-tax” (w.r.e.f. 11988).
set forth such particulars as may be prescribed ; and
be verified in the prescribed manner,
and registered with the competent authority, in such manner and within such time as may be prescribed,
by each of the parties to such transaction or by any of the parties to such transaction acting on behalf of
himself and on behalf of the other parties.]
269B.Competent authority.—
The Central Government may, by general or special order
published in the Official Gazette,
authorise as many 1[ 2[Joint Commissioners], as it thinks fit, to perform the functions of a
competent authority under this Chapter ; and
define the local limits within which the competent authorities shall perform their functions
under this Chapter.
In respect of any function to be performed by a competent authority under any provision of this
Chapter in relation to any immovable property referred to in section 269C, the competent authority
referred to therein shall,—
in a case where such property is situate within the local limits of the jurisdiction of only one
competent authority, be such competent authority ;
in a case where such property is situate within the local limits of the jurisdiction of two or
more competent authorities, be the competent authority empowered to perform such functions in
relation to such property in accordance with rules made in this behalf by the Board under section 295.
3[Explanation.—For the purposes of this sub-section, immovable property, being rights of the nature
referred to in clause
of sub-section
of section 269AB in, or with respect to, any building or part of
a building which has been constructed or which is to be constructed shall be deemed to be situate at the
place where the building has been constructed or is to be constructed.]
No person shall be entitled to call in question the jurisdiction of a competent authority in respect
of any immovable property after the expiry of thirty days from the date on which such competent
authority initiates proceedings under section 269D for the acquisition of such property.
Subject to the provisions of sub-section
Where the competent authority has reason to believe that any immovable property of a fair market value
exceeding 4[one hundred thousand rupees] has been transferred by a person (hereafter in this Chapter
referred to as the transferor) to another person (hereafter in this Chapter referred to as the transferee) for
an apparent consideration which is less than the fair market value of the property and that the
consideration for such transfer as agreed to between the parties has not been truly stated in the instrument
of transfer with the object of—
facilitating the reduction or evasion of the liability of the transferor to pay tax under this Act
in respect of any income arising from the transfer ; or
1. Subs. by Act 3 of 1989, s. 49, for “Assistant Commissioners of Income-tax” (w.r.e.f. 11988).