1995 (1) TMI 43 - HC - Income Tax

Summary

The High Court of Madras set aside the order of the authority regarding the transfer of property due to exceeding the ceiling limit. The authority's decision to withhold a 'no objection certificate' was deemed unsustainable as it exceeded its powers under the Income-tax Act. The authority was directed to reconsider the matter and issue the certificate if it decides not to acquire the property. (Case citation: 1995 (1) TMI 43 - MADRAS High Court)