2005 (1) TMI 97

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....f the Constitution of India read with section 482 of the Code of Criminal Procedure for quashing. the complaint filed by the respondent, Mr. R. K. Sandhu, DCIT, Office of the Appropriate Authority, under section 276AB of the Income-tax Act, 1961. On the statement of learned counsel for the petitioners, the writ petition was treated as criminal revision petition on September 5, 2003. Section 269....

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.... jointly owned by them to one Mr. Ram Lal Munjal. Each of the petitioners' executed a separate agreement to sell in favour of the purchaser for Rs. 32,50,000 which at the relevant time was less than the limit of Rs. 50 lakhs. It is contended by the petitioners that the law as prevailed then, as interpreted by this court, exempted such transactions from the requirement of section 269UC and that onl....

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....d in [1996] 221 ITR 375 is cited to show the position of the view of this High Court. Similar opinion of the Madras High Court is shown in K. V. Kishore v. Appropriate Authority reported in [1991] 189 ITR 264. The Supreme Court approved of the opinion of the Bombay High Court in the case of Jodhram Daulatram Arora v. M. B. Kodnani [1996] 221 ITR 368 which ran contrary to the opinion of the High Co....