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Petition for issuance of writ to quash order of Deputy Commissioner of Income-tax and obtain "no-objection certificate" under Chapter XX-C of Income-tax Act. Analysis: The petitioner entered into an agreement of sale for a property and informed the appropriate authority as required by law. The authority filed the intimation due to contradictions in the agreement and affidavit regarding the reason for property attachment. The petitioner's subsequent applications to rectify the situation were rejected based on lack of evidence regarding clearance of excess profits tax dues and other outstanding dues. The main issue was the authority's doubt about whether all dues were cleared, as required by law for property transferability under section 269UG of the Income-tax Act. The court noted the provisions of section 269UG, emphasizing the requirement for the consideration to be paid to the entitled person within a specified period after property vesting in the Central Government. The court provided directions for the appropriate authority to either purchase the property or issue a "no-objection certificate" based on the petitioner's compliance with the order. The court's directions included timelines for decision-making and payment processes to ensure compliance with the legal requirements under the Income-tax Act. In conclusion, the court disposed of the writ petition, providing specific directions to the appropriate authority regarding the decision on property purchase or issuance of a "no-objection certificate." The court highlighted the implications of property sale subject to existing encumbrances and instructed the authority to follow the specified procedures for payment and clearance of dues. The judgment aimed to ensure adherence to legal requirements and proper handling of property transactions under Chapter XX-C of the Income-tax Act.
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