VARSHABEN BHARATBHAI SHAH Vs. APPROPRIATE AUTHORITY

JUDGEMENT

(1.) IN this writ petition, the petitioner has challenged the order passed under s. 269UD(1) of the IT Act, 1961 hereinafter referred to as the Act.

(2.) SUCCINCTLY stated, the facts are as under :

(3.) LEARNED advocate for the petitioner drew our attention to the IT returns filed by the transferors for the asst. yrs. 1995 -96. Respondent No. 2, one of the transferors has indicated his property income as Rs. 36,960 being 1/2 share of the property in question. It is also placed on the record that in the return of respondent No. 3, one of the transferors, Rs. 36,960, towards property income being half share of the property which is sought to be transferred is shown. Our attention was drawn to the agreement by the learned advocate for the purpose of pointing out that two separate cheques each of Rs. 2,50,000 have been paid separately to the transferors.