ANANDRAM JIVRAJ GOGLE Vs. PREMRAJ MUKUNDDAS

JUDGEMENT

(1.) This appeal by special leave is directed against the judgment and decree of the Bombay High Court in Appeal No. 598 of 1960, whereby the High Court confirmed the judgment and decree dated January 30, 1960, passed by the Extra Assistant Judge, District Court, Ahmednagar, in Regular Appeal No. 300 of 1958, confirming the decree dated April 7, 1958, passed by the Joint Civil Judge, Junior Division, Ahmednagar, in Civil Suit No. 609 of 1948.

(2.) The relevant facts for the determination of the points raised before us by the learned counsel for the appellant-mortgagee are as follows:The respondents before us filed a suit for the redemption of the mortgage of a bungalow at Ahmednagar alleging that the sale-deed in respect of this bungalow for Rs. 5,000 was in fact a possessory mortgage. One of the terms of this deed dated August 4, 1928, was:

(3.) The method of accounting followed by the Commissioner appointed in the case, and which was accepted by the courts below, was as follows:Out of the income derived from the property (There is no dispute that the bungalow was fetching rent from month to month) the outgoings were deducted in the following order of priority: