HIMMATLAL VADALIA Vs. UNION OF INDIA

JUDGEMENT

(1.) LAND admeasuring 33,333 sq. ft situate at Yeshwant Nivwas Road, Indore, is the bone of contention. It was purchased by the appellant for consideration amount of Rs. 90 lakhs, but was compulsorily purchased by the appropriate authority in exercise of power under Section 269UD of the Income-tax Act,

(2.) THE appellants were first put on notice and informed that the apparent sale rate shown by them worked out at Rs. 270 per sq. ft. as against Rs. 375 in an allied sale transaction by the National Textile Corporation concluded way back in October, 1991. THEy were also told that their sale rate was far less than the minimum rate of Rs. 350 per sq. ft. prescribed under the Collector's guidelines for 1994-95.

(3.) THE appellants naturally felt aggrieved and took this appeal to question the writ court judgment on the short plea that the court had fallen into error by wholly relying upon the subsequent event of auction sale and by sidetracking the issues raised in their petition. Acceptance of their plea should have ordinarily warranted remand of the matter but for the insistence of the Revenue counsel, Shri P.K. Saxena, who pressed for the disposal of the whole matter on merits in this appeal. That is how we are seized of the matter.