K T THOMAS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) HEARD counsel for the petitioner and Sri N. R. K. Nair, counsel for the respondents, who took notice and opposed the original petition.

(2.) AN order for arrest under r. 73 of Schedule II to the IT Act, 1961, is under challenge in this original petition. This order, exhibit P-4, passed by the second respondent, the TRO, was confirmed on appeal by order exhibit P-7 passed by the CIT.

(3.) THE West Hill property had been mortgaged to the Chartered Bank, Calicut, which had obtained a decree in O.S. No. 84 of 1981., Sub-Court, Calicut, under which it is stated that as on June 8, 1985, an amount of Rs. 4,41,000 was due. One jolly Thomas, a director of the Malabar Produce & Rubber Co. Ltd., had purchased this decree from the Chartered Bank, Calicut.