SANKALP RECREATION PRIVATE LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) Leave granted.

(2.) Signature Not Verified This being the case, the Digitally signed by R NATARAJAN Date: 2019.09.25 17:38:31 IST Reason: appellant before us then made an offer to the Central Board of Direct Taxes (hereinafter referred to as 'CBDT ') to CIVIL APPEAL NO. 7438 OF 2019 purchase the aforesaid property for a sum of Rs.32.11 crores. This offer could not be accepted as the CBDT stated that accepting such an offer by private treaty would be beyond their jurisdiction. However, in the meanwhile, a fresh valuation report of the aforesaid property was called for, which was submitted on 04.09.2017, valuing the property at Rs.29,91,35,000/-. Pursuant to the aforesaid, a brochure/catalogue was circulated sometime in September, 2017, in which clauses 2, 12 and 16 are material and are set out hereinbelow:

(3.) Meanwhile, by a letter dated 04.05.2018, the earlier auction which yielded the sum of Rs.30.21 crores from the appellant was treated as cancelled. The said letter specifically called upon the appellant to participate in the upcoming auction to be conducted shortly. CIVIL APPEAL NO. 7438 OF 2019 The appellant, by its communication dated 12.04.2018, referred to the return of the Demand Drafts of Rs.7.5 crores and Rs.5 lakhs towards Earnest money and Caution money stating that burden of interest liability was continuing. The appellant made it clear that its participation in a future auction will still be very much there as they are not exiting the auction proceedings.