9911796707
TMI Blog2004 (4) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... epartment - - - - - Dated:- 12-4-2004 - Judge(s) : M. S. SHAH., A. M. KAPADIA. JUDGMENT- M.S. SHAH, J.: All these petitions pertain to the order of purchase dt. 13th Sept., 1996 passed by the Appropriate Authority at Ahmedabad under s. 269UD of the IT Act, 1961. Although the petitioners are not required to be decided on merits for the reasons stated hereafter, it is necessary to refer to the basic facts for the purpose of moulding the reliefs. 2.1 On 25th Jan., 1996, Shri Shivram Vishwanath Deshmukh (aged about 60 years) (Vendor No.1) and Shri Vishvas Vishwanath Deshmukh (aged about 58 years) (Vendor No.2) for himself and as the Karta of HUF consisting of himself and his son, Shri Ravindra Vishvas Deshmukh (aged about 30 years), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to sign Form No. 37-I in accordance with s. 269UC of the IT Act, 1961, as per cls. (8) and (9) of the agreement. Accordingly, on 2nd Feb., 1996, the vendors and the purchasers filed Form No. 37-I. On 24th May, 1996, the order of purchase came to be passed by the Appropriate Authority under s. 269UD, but that order came to be challenged and this Court set aside the order and remanded the matter to the Appropriate Authority. On 13th Sept., 1996, the order of purchase came to be passed by the Appropriate Authority, which is at Annex. "J" to the petition. On the same day, the Appropriate Authority called upon the vendors to hand over vacant possession of the property in question on 30th Sept., 1996. 2.3 On 30th Sept., 1996, the vendors add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s stated hereinabove." 2.4 In view of the above dispute between the vendors and the purchasers, by letter dt. 24th Oct., 1996, the Chief CIT, Pune, informed the vendors that in view of the dispute as to the apportionment of the amount of consideration amongst the persons claiming to be entitled thereto, the consideration of Rs. 240 lakhs had been deposited with the Appropriate Authority as required under sub-s. (2) of s. 269UG. 2.5 By order dt. 13th Jan., 1997 of the Asstt. CIT on behalf of the Chief CIT, Pune, the vendors were called upon to hand over possession of the property to the Asstt. CIT at Pune. 3. The purchasers filed Special Civil Application No. 8606 of 1996 challenging the order of purchase dt. 13th Sept., 1996 and this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tating that possession of the property has not been taken, but the Appropriate Authority is still interested in purchase of the property. 5. In view of the contents of the above letter dt. 8th April, 2004, Shri K.H. Kaji, learned counsel for the vendors, and Shri S.N. Soparkar, learned counsel for the purchasers, state that their respective clients are not interested in pressing their challenge to the order of purchase dt. 13th Sept., 1996 and the subsequent consequential orders if the vendors and purchasers are paid the entire amount of consideration of Rs. 240 lakhs with interest thereon from 30th Oct., 1996, as aforesaid, in the ratio of Rs. 115 lakhs : Rs. 125 lakhs with interest on the respective amounts from 30th Oct., 1996 and that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Deshmukh state that Shri Shivram Vishwanath Deshmukh and Shri Vishvas Vishwanath Deshmukh as a Karta, have title to the property and have full authority to transfer and sell the property in question and that they shall indemnify the IT Department in case of any dispute by any party. Shri Kaji for the vendors further states that they have never refused to hand over possession of the property in question to the IT Department and that in any view of the matter, they will now hand over the possession to the Department within ten days from today. Shri Shevade appearing for Shri Ravindra Vishvas Deshmukh, petitioner in SCA No. 3399 of 1997, further states that the said petitioner is desirous of withdrawing the petition in view of the afores ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Vishwanath Deshmukh (vendor No.2) as the Karta of HUF consisting of himself and his son Shri Ravindra Vishvas Deshmukh, after deducting at source, the tax payable on the interest which has accrued on the original investment made on 30th Oct., 1996. (b) Similarly, the Appropriate Authority shall pay Rs. 125 lakhs with interest accrued thereon from 30th Oct., 1996 till the date of encashment of the aforesaid fixed deposit to the purchasers-out of the said amount, 50 per cent of the amount shall be paid to Shri Rasiklal Manikchand Dhariwal, Karta of Rasiklal Maniklal Dhariwal HUF and the balance 50 per cent amount to Shri Prakash Rasiklal Dhariwal as a member of Rasiklal Maniklal Dhariwal HUF. These payments shall also be made after deductin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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