SUDARSHAN TRADING COMPANY LIMITED Vs. APPROPRIATE AUTHORITY

JUDGEMENT

(1.) THE prayer in the writ petition is to issue a writ of certiorarified mandamus and to call for the records of the first respondent dated June 28, 1988, and further direct them to pay the balance amount of Rs. 4,59,325.

(2.) THE petitioner was the owner of a house property at No. 10, Rogers Road, Richards Town, Bangalore, and it entered into a sale agreement dated March 12, 1988, with a person in Bombay in respect of the property. THE petitioner applied to the appropriate authority under the Income-tax Act for obtaining a no objection certificate under Chapter XXC of the Act. But by order dated May 23, 1988, the Department acquired the property for a sum of Rs. 23,00,000 under section 269UD(1) of the Income-tax Act, 1961. By impugned letter dated June 28, 1988, the petitioner was informed that the amount of consideration payable to him will be reduced by Rs. 4,59,325 being tax arrears payable to the Department.