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1969 (9) TMI 109 - SC - Central ExciseWhether the phrase "person to whom a shop has been sold" in cl. 21 of r. 5.34 means a "person whose bid has been provisionally accepted"? Held that:- In the present case the first part of cl. 21 applies. It is not disputed that the Chief Commissioner has disapproved the bid offered by the respondent. If the Chief Commissioner had granted sanction under cl. 33 of Ex. D-23 the auction sale in favour of the respondent would have been a completed transaction and he would have been liable for any shortfall on the resale. As the essential pre-requisites of a completed sale are missing in this case there is no liability imposed on the respondent for payment of the deficiency in the price. For these reasons we hold that the judgment of the Punjab High Court dated August 19, 1963 in L.P.A. No. 50-D of 1960 is correct and this appeal must be dismissed.
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