After section 269UO of the Income-tax Act, the following section shall be inserted with effect from the 1st day of July, 2002, namely:--
"269UP. Chapter not to apply where transfer of immovable property effected after certain date.--
The provisions of this Chapter shall not apply to, or in relation to, the transfer of any immovable property effected on or after the 1st day of July, 2002.".