No pre-emptive purchase order under sec. 269UD if only leasehold rights of property were transferred

IT : Where 'V' Engineering, holding leasehold right in plot of land, entered into development agreement with assessee a developer, said transfer of rights in land did not amount to any sale, exchange or lease of such land under provisions of Chapter XXC, because 'V' Engineering itself was only a lessee and, therefore, pre-emptive purchase order passed under section 269UD in respect of land in question was to be set aside