UNION OF INIDA Vs. ALOK KUMAR CHAMARIA

JUDGEMENT

(1.) The stay petition arises out of an injunction order passed by the learned trial judge, 13th Bench, City Civil Court, Calcutta in Title Suit No. 1705 of 1989 leading to F.M.A. No. 525 of 1990. The stay petition has been filed by the defendant-appellants against the plaintiff-respondent No.l and others.

(2.) The facts, in short, leading to this appeal are as follows:-- It is undisputed, that the suit property is premises No.9, Weston Street, Calcutta. It was leased out originally by Ram Protap Chamaria in favour of the Lipton India Limited by an indenture dated 21st March, 1925. In course of time, the said property by way of a decree of partition came to the plaintiff-respondent No.l namely Aloke Kumar Chamaria who executed a deed of modification to favour of the Lipton India Limited by a fresh indenture dated 29th December, 1973. Thus, the 40% of Alok Kumar Chamaria's undivided interest in the disputed property was leased out to Lipton India Limited. On 2nd February, 1979 Alok Kumar Chamaria transferred undivided 10% of his right, title and interest of the said property to his wife, i.e. the respondent No.3.

(3.) On 26th April, 1979 and 1st June, 1983, Alok Kumar Chamaria by two separate documents transferred his undivided 40% right, title and interest in question to M/s. Parijat Investment Limited i.e. the respondent No.2. On 6th January, 1989 a form i.e. 37-I was filed under section 269 UC of the Income Tax Act of 1961 read with Rule 48L of the Income Tax Rules before the appropriate authority. That form was signed by M/s. Lipton India Limited, Alok Kumar Chamaria, Smt. Prativa Chamaria and M/s. Parijat Investment Limited as transferors and M/s. Consolidated Consultancy Services Private Limited as the transferee in respect of the disputed premises i.e. 9, Weston Street, Calcutta. There was one agreement for head lease between Alok Kumar Chamaria, Smt. Prativa Chamaria, M/s Parijat Investment Limited and M/s. Consolidated Consultancy Services Private Limited intending to transfer the leassors interest for Rs. 60,00,000/- and the other agreement was between M/s. Consolidated Consultancy Services Private Limited and M/s. Lipton India Limited proposing to transfer the leasee's interest for a sum of Rs.1.80 crores. On receipt of this return the Income Tax Authority passed an order under section 269 UD (1) of the Act and exercised the option to purchase only the lessee's interest i.e. the interest of M/s. Lipton India Limited on behalf of the Central Government for an apparent consideration of Rs.1,74,90,375/-.