WILFRED DSOUZA Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) This appeal by the assessee has been admitted to consider the following questions of law:

(2.) Heard Shri. A. Shankar, learned Senior Advocate for the assessee and Shri. K.V. Aravind, learned Standing Counsel for the Revenue.

(3.) Brief facts of the case are, on February 10, 1996, appellant entered into an agreement to purchase property measuring 34 acres 32 guntas spread over in Padavu village and Kudupu village in Mangaluru Taluk for Rs. One Crore. He paid advance consideration of Rs. 78.90 Lakhs between 1995-1996 and 1998-1999. As per the agreement, assessee was required to evict the tenants and take possession of the property. Accordingly, he entered into an agreement with the tenants on November 15, 1996 and took possession by paying of Rs. 15 Lakhs. Then, he approached the owners with a request to execute the sale deed and they were postponing the same on some pretext and therefore, he filed O.S. No.100/2004 in the Court of Civil Judge (Sr.Dn.), Mangaluru seeking specific performance of the agreement.