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2008 (2) TMI 819 - HC - Income TaxSeeking to quash and set aside an auction notice - Held that:- The petitioner has clearly acquired a right of ownership in respect of the suit premises. When this right was acquired, Swastik India (P) Ltd. who is respondent No. 4 in this petition, was the sub-lessee. The rights of Swastik India (P) Ltd. were modified by the indenture of modification dated February 19, 1986. The order under section 269UD related to the acquisition of the shareholding of Swastik India (P) Ltd. and thus the Union of India stands in the shoes of Swastik India (P) Ltd., i.e., respondent No. 4. The impugned notice, however, seeks to sell the suit premises which are of the ownership of the petitioner. In our view, this cannot be permitted as respondents Nos. 1, 2, and 3 were never the owners of the suit premises. In the circumstances, the petition will have to be allowed.We, however, make it clear that the income-tax authorities will be at liberty to take any proceedings or steps in relation to their acquired assets and rights in accordance with law.
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