INDIRA BANERJEE,J. - (1.) THE writ applications, being Writ Petn. No. 128 of 2011 and Writ Petn. No. 2106 of 2003, are directed against an order of compulsory acquisition dt. 14th August, 2001, of the first floor of premises No. 4A, Pollock Street, Kolkata-700001, hereinafter referred to as the said premises, passed by the IT Department under Chapter XX-C of the IT Act, 1961.
(2.) PETITIONER No. 1 entered into an agreement dt. 22nd Sept., 1984, 2 for transfer of the entire first floor of premises No. 4A, Pollock Street, Kolkata 700001, to Karnani Finance Enterprises Ltd. Before the said property was actually transferred in terms of the aforesaid agreement, the Finance Act, 1986, was enacted, amending the IT Act, 1961, by insertion of Chapter XX-C consisting of S. 269U to s. 269UO. The amendments came into force w.e.f. 1st Oct., 1986, pursuant to Notification No. S.O. 480(E), dt. 7th Aug., 1986 [See (1986) 162 ITR (St) 1].
(3.) THE relevant provisions of Chapter XX-C of the IT Act relevant for deciding issues involved in this writ application are' set out hereinbelow for convenience : "269UA. In this chapter, unless the context otherwise requires,- (a) 'agreement for transfer' means an agreement, whether registered under the Registration Act, 1908 (16 of 1908), or not, for the transfer of any immovable property; (b) 'apparent consideration',- (1) in relation to any immovable property in respect of which an agreement for transfer is made, being immovable property of the nature referred to in sub-cl. (i) of cl. (d) means,- (i) if the immovable property is to be transferred by way of sale, the consideration for such transfer as specified in the agreement for transfer; (ii) if the immovable property is to be transferred by way of exchange,- (A) in a case where the consideration for the transfer consists of a thing or things only, the price that such thing or things would ordinarily fetch on sale in the open market on the date on which the agreement for transfer is made; (B) in a case where the consideration for the transfer consists of a thing or things and sum of money, the aggregate of the price that such thing or things would ordinarily fetch on sale in the open market on the date on which the agreement for transfer is made, and such sum; (iii) if the immovable property is to be transferred by way of lease,- (A) in a case where the consideration for the transfer consists of premium only, the amount of premium as specified in the agreement for transfer; (B) in a case where the consideration for the transfer consists of rent only, the aggregate of the moneys (if any) payable by way of rent and the amounts for the service or things forming part of or constituting the rent, as specified in the agreement for transfer; (C) in a case where the consideration for the transfer consists of premium and rent, the aggregate of the amount of the premium, the moneys (if any) payable by way of rent and the amounts for the service or things forming part of or constituting the rent, as specified in the agreement for transfer . . . (2) in relation to any immovable property in respect of which an agreement for transfer is made, being immovable property of the nature referred to in sub-cl. (ii) of cl. (d), means,- (i) in a case where the consideration for the transfer consists of a sum of money only, such sum; (ii) in a case where the consideration for the transfer consists of a thing or things only, the price that such thing or things would ordinarily fetch on sale in the open market on the date on which the agreement for transfer is made; (iv) in a case where the consideration for the transfer consists of a thing or things and a sum of money, the aggregate of the price that such thing or things would ordinarily fetch on sale in the open market on the date on which the agreement for transfer is made, and such sum, and where the whole or any part of the consideration for such transfer is payable on any date or dates falling after the date of such agreement for transfer, the value of the consideration payable after such date shall be deemed to be the discounted value of such consideration, as on the date of such agreement for transfer, determined by adopting such rate of interest as may be prescribed in this behalf; . . . 269UC. (1) Notwithstanding anything contained in the Transfer of Property Act, 1882 (4 of 1882), or any other law for the time being in force, no transfer of any immovable property in such area and of such value exceeding five lakhs rupees, as may be prescribed, shall be effected except after an agreement for transfer is entered into between the person who intends transferring the immovable property (hereinafter referred to as the transferor) and the person to whom it is proposed to be transferred (hereinafter referred to as the transferee) in accordance with the provisions of sub-s. (2) at least four months before the intended date of transfer. (2) The agreement referred to in sub-s. (1) shall be reduced to writing in the form of a statement by each of the parties to such transfer or by any of the parties to such transfer acting on behalf of himself and on behalf of the other parties. (3) Every statement referred to in sub-s. (2) shall,- (i) be in the prescribed form; (ii) set forth such particulars as may be prescribed; and (iii) be verified in the prescribed manner, and shall be furnished to the appropriate authority in such manner and within such time as may be prescribed, by each of the parties to such transaction or by any of the parties to such transaction acting on behalf of himself and on behalf of the other parties. . . 269UD. (1) The appropriate authority after the receipt of the statement under sub-s. (3) of S. 269UC in respect of any immovable property, may, notwithstanding anything contained in any other law or any instrument or any agreement for the time being in force, and for reasons to be recorded in writing, make an order for the purchase by the Central Government of such immovable property at an amount equal to the amount of apparent consideration : Provided that no such order shall be made in respect of any immovable property after the expiration of a period of two months from the end of the month in which the statement referred to in S. 269UC in respect of such property is received by the appropriate authority : Provided that in a case where the statement referred to in S. 269UC in respect of the immovable property concerned is given to an appropriate authority, other than the appropriate authority having jurisdiction in accordance with the provisions of S. 269UB to make the order referred to in this sub-section in relation to the immovable property concerned, the period of limitation referred to in the preceding proviso shall be reckoned with reference to the date of receipt of the statement by the appropriate authority having jurisdiction to make the order under this sub-section : . . . 269UE. (1) Where an order under sub-s. (1) of S. 269UD is made by the appropriate authority in respect of an immovable property referred to in sub-cl. (i) of cl. (d) of S. 269UA, such property shall, on the date of such order, vest in the Central Government free from all encumbrances : . . . (2) The transferor or any other person who may be in possession of the immovable property in respect of which an order under sub-s. (1) of S. 269UD is made, shall surrender or deliver possession thereof to the appropriate authority or any other person duly authorised by the appropriate authority in this behalf within fifteen days of the service of such order on him : . . . (3) If any person refuses or fails to comply with the provisions of sub-s. (2), the appropriate authority or other person duly authorised by it under that sub-section may take possession of the immovable property and may, for that purpose, use such force as may be necessary . . . 269UF. (1) Where an order for the purchase of any immovable property by the Central Government is made under sub-s. (1) of S. 269UD, . . . the amount equal to the amount of the apparent consideration . . . 269UG. (1) The amount of consideration payable in accordance with the provisions of S. 269UF shall be tendered to the person or persons entitled thereto, within a period of one month from the end of the month in which the immovable property concerned becomes vested in the Central Government under sub- s. (1), or, as the case may be, sub-s. (6), of S. 269UE : Provided that if any liability for any tax or any other sum remaining payable under this Act, the WT Act, 1957 (27 of 1957), the GT Act, 1958 (18 of 1958), the ED Act, 1953 (34 of 1953), or the Companies (Profits) Surtax Act, 1964 (7 of 1964), by any person entitled to the consideration payable under s. 269UF, the appropriate authority may, in lieu of the payment of the amount of consideration, set off the amount of consideration or any part thereof against such liability or sum, after giving an intimation in this behalf to the person entitled to the consideration. (2) Notwithstanding anything contained in sub-s. (1), if any dispute arises as to the apportionment of the amount of consideration amongst persons claiming to be entitled thereto, the Central Government shall deposit with the appropriate authority the amount of consideration required to be tendered under sub-s. (1) within the period specified therein. (3) Notwithstanding anything contained in sub-s. (1), if the person entitled to the amount of consideration does not consent to receive it, or if there is any dispute as to the title to receive the amount of consideration, the Central Government shall deposit with the appropriate authority the amount of consideration required to be tendered under sub-s. (1) within the period specified therein :. .. 269UH. (1) If the Central Government fails to tender under sub-s. (1) of S. 269UG or deposit under sub-s. (2) or sub-s. (3) of the said section, the whole or any part of the amount of consideration required to be tendered or deposited thereunder within the period specified therein in respect of any immovable property which has vested in the Central Government under sub-s. (1) or, as the case may be, sub-s. (6) of s. 269UE, the order to purchase the immovable property by the Central Government made under sub-s. (1) of S. 269UD shall stand abrogated and the immovable property shall stand re-vested in the transferor after the expiry of the aforesaid period : Provided that where any dispute referred to in sub-s. (2) or sub-s. (3) of S. 269UG is pending in any Court for decision, the time taken by the Court to pass a final order under the said sub-sections shall be excluded in computing the said period. . . 269UJ. With a view to rectifying any mistake apparent from the record, the appropriate authority may amend any order made by it under this chapter, either on its own motion or on the mistake being brought to its notice by any person affected by the order : Provided that if any such amendment is likely to affect any person prejudicially, it shall not be made without giving to such person a reasonable opportunity of being heard : Provided further that no amendment shall be made under this section after the expiry of six months from the end of the month in which the order sought to be amended was made. . . 269UM. Notwithstanding anything contained in any other law or in any instrument or any agreement for the time being in force, when an order for the purchase of any immovable property by the Central Government is made under this chapter, no claim by the transferee shall lie against the transferor by reason of such transfer being not in accordance with the agreement for the transfer of the immovable property entered into between the transferor and transferee : Provided that nothing contained in this section shall apply if the order for the purchase of the immovable property by the Central Government is abrogated under sub-s. (1) of S. 269UH. 269UN. Save as otherwise provided in this chapter, any order made under sub-s. (1) of S. 269UD or any order made under sub-s. (2) of S. 269UF shall be final and conclusive and shall not be called in question in any proceeding under this Act or under any other law for the time being in force." ;