1990 (8) TMI 95

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....ad purchased a flat bearing No. 131 on the 13th floor in Maker Tower B, Cuffe Parade, Bombay, on November 6, 1983. The said concern had loan and/or overdraft transactions with the Bank of Madurai. The bank filed Suit No. 2626 of 1983 in this court against the said concern. On a notice of motion at the instance of the bank, a receiver was appointed to take possession of the flat. On August 29, 1986....

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....ant of attachment dated June 13, 1986, from the Income-tax Department and that the said warrant of attachment was lifted by a subsequent order passed by the Income-tax Officer dated September 26, 1986. On the date of the agreement, i.e., on September 27, 1986, the said concern and the petitioners sent a statement in Form No. 37EE (rule 48DD) to the office of the Competent Authority as required und....

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....tioners. Even though show cause notice was not addressed to them, the petitioners explained their case, vide reply dated November 12, 1987, giving as many as six reasons as to why the sale of the flat to them could not be treated as void. The Inspecting Assistant Commissioner, however, passed the impugned order on December 4, 1987, without even referring to the petitioners' explanation to the show....

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....dequate consideration and without notice of the pendency of such proceedings or, as the case may be, without notice of such tax or other sum payable by the assessee shall not be void. The petitioners are, thus, a necessary party to the proceedings under section 281. It is they who have purchased the flat from the said concern on the basis of permission granted by this court. Prima facie they ha....