PIRAMAL AGARWALLA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE petitioners have filed this writ appliction for quashing the orders passed by the income tax authorities contained in annexures the 1 and 2 and for a direction to acquire the house bearing holding No. 320/110 in ward No. 13 in the town of Baripada under the provisions of chapter XXA of the Income tax Act, 1961 (for short 'the Act').

(2.) THE petitioners were tenants in the house under one Godavari Devi (O.P. No.4). O.P.No.4 sold the property to one Basudev Sahu (O.P. No. 3) under a registered sale deed dated July 5, 1976, for Rs. 24,000 which, according to the petitioners, who were also contending purchasers, was undervalued, its market value being above Rs. 50,000.

(3.) THE petitioner then filed an application under section 264 of the Act before opposite party No. 2 against his order raising several points, who, on hearing the matter, dismissed the same, inter alia, on the ground that he had no jurisdiction to entertain the application and that the petitioners and other co tenants were not 'person interested' within the meaning of section 269A(g). Against this order, the petitioners have come to this court.