TaxTMI 
TaxTMI 
1992 (3) TMI 6
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....e original owner agreed to sell the property in question to the appellant before us for a consideration of Rs. 13 lakhs of which a sum of Rs. 5 lakhs has already been paid. However, the Income-tax Department intervened by passing an order under section 269UD of the Income tax Act, 1961, which, if valid, would result in the vesting of the property in the Union subject to the terms of the section ab....
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....ding, they should not raise the plea that third parties' rights have intervened. The appellant is in appeal against this order. Before us, the original owner has filed an application stating that, so far as he is concerned, he only wants that the sale consideration should be paid to him either by the Department or by the transferee. The transferee is also willing to pay to the original owner the ....
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.... that the status quo as to the possession of the property as on date should continue till the disposal of the writ petition. As already directed by this court in its interim order dated November 20, 1991, the appellant should not alienate, transfer or part with the possession of the property or encumber it or alter the condition of the property in any manner till the disposal of the writ petition.....