HANSRAJ MADHAVJI THAKKAR Vs. APPROPRIATE AUTHORITY

JUDGEMENT

(1.) THE IT Act, 1961 (hereinafter referred to as "the Act"). The petitioners have prayed for issuance of the appropriate writ against the 1st respondent requiring them to issue no objection certificate under s. 269UL(2) of the IT Act, and release and restore the office premises bearing No. 517, 5th Floor, Maker Chamber -V, Nariman Point, Mumbai, admeasuring about 766 sq. ft. in area. The purchase transaction entered @ Rs. 3,133 per sq. ft. for total consideration of Rs. 24,00,000.

(2.) THE facts which are relevant for consideration are as under : Ltd., 241 -2, Rambha, Nepean Sea Road, Mumbai -6 (owner of the premises), for purchase of office premises referred informed the petitioners that office premises (property in question) was to be inspected by the Valuation Officer. premises by the Central Government. The said order was challenged in Writ Petn. No. 1667 of 1988 by the petitioners direction that a fresh order be passed in respect of the application of the petitioners after granting an opportunity of hearing, in the light of the apex Court decision in C.B. Gautam vs. Union of India (1992) 108 CTR (SC) 304 r/w (1993) 110 CTR (SC) 179 : (1993) 199 ITR 530 (SC).

(3.) 1988 were referred, however they were never furnished to the petitioners, in spite of their demand.