TaxTMI 
TaxTMI 
1988 (7) TMI 12
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...., an auction sale had actually taken place on February 4, 1986. The highest bidder at the auction was one Sri Shiv Kumar, who, on demand, failed to deposit one-fourth of the amount of the bid. Consequently, Sri Sharad Jaiswal, who was the second highest bidder at the said auction, was required to deposit one-fourth of the amount of auction. On that very date, Sri Jaiswal deposited one-fourth of the amount of auction sale. Subsequently, objections were filed by Smt. Gaitri Devi before the Sub-Divisional Magistrate stating that the auction proceedings continued till late at night. The said objections were accepted by the Sub- Divisional Magistrate and he, vide his order dated February 13, 1986, a copy of which has been filed as annexure 3 to ....
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....uring the pendency of the present two writ petitions, a supplementary affidavit has been filed on behalf of the petitioner, Smt. Gaitri Devi, stating that the Income-tax Tribunal has, vide its order dated March 15, 1988, set aside the aforesaid demand of estate duty and has remanded the case to the Assistant Controller of Estate Duty for rehearing and disposal of the liability of the petitioner under the Estate Duty Act on the ground that the title deeds with respect to certain properties had not been examined and that the recitals in the will of the deceased had not been properly gone into. I have heard learned counsel for the parties in these two writ petitions. The first submission made by Sri R. N. Singh, learned counsel for the petiti....