1991 (9) TMI 65

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....e challenge in this writ petition is to the order dated March 15, 1990, whereby the appropriate authority under the Income-tax Act, 1961, had not granted permission to the petitioner which he has sought by an application in Form No. 37-1 of the Act. Respondent No. 4 is the owner of the property bearing No. D/41, Okhla Industrial Area, Phase-I New Delhi. It had entered into an agreement to sell ....

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....X-C of the Income-tax Act had been violated. According to the appropriate authority, there had been a breach committed of this Chapter and prosecution could be initiated. He further came to the conclusion that the consideration shown was Rs. 24 lakhs, out of which Rs. 22 lakhs have already been paid and he concluded that the pre-emptive right to purchase had been defeated by the parties. While ....

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....inst the first decision of this court and on April 23, 1991, the Supreme Court in Appropriate Authority v. Tanvi Trading and Credits P. Ltd. [1991] 191 ITR 307 (SC), while dismissing the special leave petition, passed the following orders (at p. 308): "We agree that two alternatives are open under the scheme of the legislation : - (1) the Union of India, through the appropriate a....

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.... the month within which a statement under section 269UC has been filed. In the present case, the statement was filed on January 31, 1990. Two months would expire by March 31, 1990. Thereafter, the Government lost its right to purchase the said property. Following the ratio of this court's decision in Tanvi Trading and Credits' case [1991] 188 ITR 623, we allow this writ petition and qua....