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TMI Blog2009 (12) TMI 29X X X X Extracts X X X X X X X X Extracts X X X X ..... eceived the possession of the property in question till the date of payment - 3544 of 1993 - - - Dated:- 14-12-2009 - Petitioner Counsel :- A. Shukla, D. P. Dwivedi, M. A. Mansoor Respondent Counsel :- S. C. Mishra Hon'ble Rajiv Sharma, J. Hon'ble Dr. Satish Chandra, J. By this writ petition, the petitioners have confined its claim for getting the interest on the purchase of the property by the Central Government under Section 269-UD(1) of the Income Tax Act, 1961. Briefly, the facts are that the petitioners were the lessees of the land No. 706-A Sector-C, Mahanagar, Lucknow and the owners of the building no.525, GA/163 constructed thereon. By an agreement of sale dated 21.04.1990, the petitioners agreed to transfer their ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elied on the ratio laid down by the Hon'ble Apex Court and Karnataka High Court in the cases of C. B. Gautam v. Union of India [1993] 199 ITR 530 SC and Chandrika Apartments Pvt. Ltd. v. Union of India (1993) 206 ITR 272 (Karnatka) respectively. The relevant portions of the judgments are reproduced as under:- (i).C. B. Gautam v. Union of India [1993] 199 ITR 530 SC where it was observed that "we realize that if an order for compulsory purchase of the property is made hereinafter, the intending vendor will suffer to some extent by reason of the fact that he will get the purchase amount several years after the time he would have got it had the impugned order been held to be valid. But , on the other hand, however,r he would have retained p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he owner is forced to sell the property, the owner should not be penalized by forcing him to receive only the price. All that can be observed by way of a general principle is that interest at an appropriate rate can, if equity so requires, be paid to him. Writ jurisdiction is an equitable jurisdiction, the width of the jurisdiction should not be limited so as to exclude a power to award interest in an appropriate case. To what extent and under which circumstances, the interest should be awarded depends upon the circumstances of the each case, to be judicially considered. In the proceedings initiated under Chapter XXC of the Income-tax Act, the property vests in the Government and the Government derived considerably undue advantage for se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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