JUDGMENT

D.P Mohapatra, J.-Leave granted in Special Leave Petition (Civil) Nos.13085-86/1996.

2. All the cases were heard together with the consent of the parties and are being disposed of by this judgment.

3. The controversy raised in these cases relate to the validity of the pre-emptive purchase of a building in the city of Bangalore under Section 269UE of the Income Tax Act, 1961 (for short the Act ) and its sale by the Central Government. This is the second round of this litigation to this Court. The exercise which started towards the end of 1990 is yet to reach finality.

4. The property in controversy is a double storied building bearing Nos.775 to 809 situated at Old Taluk Cutchery Road, Bangalore. It consists of shops presently in occupation of tenants. M/s. Vidyavati Kapoor Trust represented by Mohan Lal Kapoor entered into an agreement with M/s. Rajatha Trust represented by Shiv Kumar on 28-11-1990 for sale of the said property for a consideration of Rs. 1,55,00,000/-. When the transferor and the transferee jointly submitted application in the prescribed form to the Appropriate Authority under Section 269-UC of the Act, action for pre-emptive purchase of the property was t