R S COMPANY Vs. APROPRIATE AUTHORITY

JUDGEMENT

(1.) This writ petition is directed against an order dated 22/03/1995 passed by Deputy Commissioner of Income-tax, being the appropriate authority, in terms of Section 269UD(1) of the Income-tax Act.

(2.) The said authority had directed purchase of land said to be agricultural property by the Central Government bearing Khewat No. 11, Khata No. 13, Rect. No. 14, Kila No. 4/2 (2-16) Kila No. 5(8-0), measuring 26 kanal 16 marlas (3.35 acres) situated in the revenue state of village Fatehpur, Tehsil and district Gurgaon with electric connection, tubewell and one room and trees etc According to the petitioner, the respondents No. 3 and 4 herein, are owners of the said land. It is contended that the said property was the ancestral properly of the arore-inentioned respondents. By agreement dated 28/11/1984, the said respondents entered into an agreement to sell the said property, consideration whereof was fixed at the rate of Rs.20,000.00 per acre, amounting to a total consideration of Rs.68 lakhs inclusive of tubewell, electric connection and one room, Fridge etc. Respondents NO. 3 and 4, in terms of Rule 48-L- of the Income-tax Rules, 1962, filed a statement of transfer of subject property as required in form 37-I together with the said agreement. It was contended that the land in question is agricultural land.

(3.) A show cause notice dated 15/03/1995 was issued upon the petitioner as also the respondents No. 3 and 4 asking them to file various documents/information relating to the said property. The said show cause notice reads thus: