GOVERNMENT OF INDIA Vs. MAXIM A LOBO

JUDGEMENT

(1.) AGGRIEVED by an order of the second respondent under sub-section (1) of section 269UD of the Income-tax Act, 1961, in and by which it was decided to purchase the immovable property belonging to the petitioner situated in R.S. No. 4487 and bearing door No. 126, Santhome High Road, Madras-600 028, the present writ petition challenging the said order has been filed.

(2.) BRIEF facts are as under : The petitioner, as owner of the said property entered into an agreement on January 29, 1988, with the third respondent agreeing to transfer 90.505% of his right, title and interest in the property in question for a consideration of Rs. 32,76,733.50. The petitioner under the said agreement proposed to retain 9.495% of his right, title and interest and in addition to that, made the third spondent agree to construct for him a flat of about 1,715 sq. ft. built-up area along with 160 sq. ft. covered car park space at a cost of Rs. 3,30,300. As a required under the provisions of the Income-tax Act, the petitioner forwarded a duly verified statement in Form No. 37-1 and also a copy of the agreement of sale dated January 29, 1988. This was received by the second respondent on January 29, 1988, as seen from the impugned order. Under the provisions of the Income-tax Act, the second respondent is expected to pass orders with 60 days of the receipt of the statement in Form No. 37-1 regarding purchase of the property. In accordance with that, just before the expiry of the last day, the second respondent, by order dated March 28, 1988, has passed the impunged order deciding to purchase the property for a sum of Rs. 32,76,733.50.

(3.) IN the result, the order of the second respondent dated March 28, 1988, made in No. AA/Mds/1 (223) 3/ 87-88 is quashed and the writ petition is allowed. However, there will be no order as to costs.