Section 269 of Income Tax Act "Definition of "High Court""
269. In this Chapter,-
"High Court" means-
(i) in relation to any State, the High Court for that State
;
(ii) in relation to the Union territory of Delhi, the High
Court of Delhi ;
(iia) [***]
(iii) [***]
(iv) in relation to the Union territory of the Andaman and
Nicobar Islands, the High Court at Calcutta ;
(v) in relation to the Union territory of Lakshadweep, the
High Court of Kerala ;
(va) in relation to the Union territory of Chandigarh, the
High Court of Punjab and Haryana ;
(vi) in relation to the Union territories of Dadra and Nagar
Haveli and Daman and Diu, the High Court at Bombay ; and
(vii) in relation to the Union territory of Pondicherry, the
High Court at Madras.
269A. In this Chapter, unless the context otherwise
requires,-
(a) "apparent consideration",-
(1) in relation to any immovable property transferred, being
immovable property of the nature referred to in sub-clause (i)
of clause (e), means,-
(i) if the transfer is by way of sale, the consideration for
such transfer as specified in the instrument of transfer ;
(ii) if the transfer is by way of exchange,-
(A) in a case where the consideration for the transfer
consists of a thing or things only, the price that such
thing or things would ordinarily fetch on sale in the open
market on the date of execution of the instrument of
transfer ;
(B) in a case where the consideration for the transfer
consists of a thing or things and a sum of money, the
aggregate of the price that such thing or things would
ordinarily fetch on sale in the open market on the date of
execution of the instrument of transfer and such sum ;
(iii) if the transfer is by way of lease,-
(A) in a case where the consideration for the transfer
consists of premium only, the amount of premium as specified
in the instrument of transfer ;
(B) in a case where the consideration for the transfer
consists of rent only, the aggregate of the moneys (if any)
payable by way of rent and the amounts for the service or
things forming part of or constituting the rent, as
specified in the instrument of transfer ;
(C) in a case where the consideration for the transfer
consists of premium and rent, the aggregate of the amount of
the premium, the moneys (if any) payable by way of rent and
the amounts for the service or things forming part of or
constituting the rent, as specified in the instrument of
transfer,
and where the whole or any part of the consideration for
such transfer is payable on any date or dates falling after
the date of such transfer, the value of the consideration
payable after such date shall be deemed to be the discounted
value of such consideration, as on the date of such
transfer, determined by adopting the rate of interest at
eight per cent per annum ;
(2) in relation to any immovable property transferred, being
immovable property of the nature referred to in sub-clause
(ii) of clause (e), means,-
(i) in a case where the consideration for the transfer
consists of a sum of money only, such sum ;
(ii) in a case where the consideration for the transfer
consists of a thing or things only, the price that such
thing or things would ordinarily fetch on sale in the open
market on the date of the transfer ;
(iii) in a case where the consideration for the transfer
consists of a thing or things and a sum of money, the
aggregate of the price that such thing or things would
ordinarily fetch on sale in the open market on the date of
the transfer and such sum,
and where the whole or any part of the consideration for
such transfer is payable on any date or dates falling after
the date of such transfer, the value of the consideration
payable after such date shall be deemed to be the discounted
value of such consideration, as on the date of such
transfer, determined by adopting the rate of interest at
eight per cent per annum ;
(b) "competent authority" means a Joint Commissioner
authorised by the Central Government under section 269B to
perform the functions of a competent authority under this
Chapter ;
(c) "court" means a principal civil court of original
jurisdiction unless the Central Government has appointed (as
it is hereby authorised to do) any special judicial officer
within any specified local limits to perform the functions
of the court under this Chapter ;
(d) "fair market value",-
(i) in relation to any immovable property transferred by way
of sale or exchange, being immovable property of the nature
referred to in sub-clause (i) of clause (e), means the price
that the immovable property would ordinarily fetch on sale
in the open market on the date of execution of the
instrument of transfer of such property ;
(ii) in relation to any immovable property transferred by
way of lease, being immovable property of the nature
referred to in sub-clause (i) of clause (e), means the
premium that such transfer would ordinarily fetch in the
open market on the date of execution of the instrument of
transfer of such property, if the consideration for such
transfer had been by way of premium only ;
(iii) in relation to any immovable property transferred,
being immovable property of the nature referred to in
sub-clause (ii) of clause (e), means the consideration in
the form of money that such transfer would ordinarily fetch
in the open market on the date of the transfer, if such
transfer had been made only for consideration in money ;
(e) "immovable property" means,-
(i) any land or any building or part of a building, and
includes, where any land or any building or part of a
building is transferred together with any machinery, plant,
furniture, fittings or other things, such machinery, plant,
furniture, fittings or other things also.
Explanation.-For the purposes of this sub-clause, land,
building, part of a building, machinery, plant, furniture,
fittings and other things include any rights therein ;
(ii) any rights of the nature referred to in clause (b) of
sub-section (1) of section 269AB ;
(f) "instrument of transfer" means the instrument of
transfer registered under the Registration Act, 1908 (16 of
1908), or, as the case may be, the statement registered
under section 269AB with the competent authority ;
(g) "person interested", in relation to any immovable
property, includes all persons claiming, or entitled to
claim, an interest in the compensation payable on account of
the acquisition of that property under this Chapter ;
(h) "transfer",-
(i) in relation to any immovable property referred to in
sub-clause (i) of clause (e), means transfer of such
property by way of sale or exchange or lease for a term of
not less than twelve years, and includes allowing the
possession of such property to be taken or retained in part
performance of a contract of the nature referred to in
section 53A of the Transfer of Property Act, 1882 (4 of
1882).
Explanation.-For the purposes of this sub-clause, a lease
which provides for the extension of the term thereof by a
further term or terms shall be deemed to be a lease for a
term of not less than twelve years if the aggregate of the
term for which such lease has been granted and the further
term or terms for which it can be so extended is not less
than twelve years ;
(ii) in relation to any immovable property of the nature
referred to in sub-clause (ii) of clause (e), means the
doing of anything (whether by way of transfer of shares in a
co-operative society or company or by way of any agreement
or arrangement or in any other manner whatsoever) which has
the effect of transferring, or enabling the enjoyment of,
such property.