JAIPAL JAIN Vs. APPROPRIATE AUTHORITY

JUDGEMENT

(1.) This petition is filed to challenge the order dated 24-2-1993 passed by the appropriate authority under Section 269UD(1) of the Income Tax Act, 1961 ('Act' for short) for compulsory purchase of the property which is the subject matter of the present petition.

(2.) By agreement dated 15-9-1986, the petitioners had agreed to purchase from the vendors a bungalow type residential house in Unit 'H' situated at Dev Park, J.V.P.D. Scheme, Vile Parle (West), Mumbai - 400 049 ('the property in question') for a consideration of Rs.19,11,250/-.

(3.) On 13-10-1986, the petitioner filed a declaration in Form 37-EE seeking NOC from the competent Authority for purchase of the property in question as per Chapter XX-A of the Act. Notices were issued by the Competent Authority under Chapter XX-A and ultimately by an order dated 30-12-1992 passed under Section 269UF(7) of the Act, it was held that the property in question is not a fit case for acquiring under Chapter XX-A of the Act.