ORDER

1. Leave granted. Heard.

2. The respondent entered into an agreement of sale dated 26.10.1988 agreeing to sell her property to the appellant for consideration of Rs.43,50,000/- and received Rs.9,50,000/- as advance. The agreement required the sale to be completed by the intending purchaser by paying the full balance consideration of Rs.34 lakhs within 30 days from the date of issue of a letter/telegram by the intending vendor informing the intending vendee that necessary NOC under Section 269 (UL) of the Income Tax Act, 1961 and Income Tax Clearance Certificate had been received. The agreement further provided that the time was the essence of the contract and it will not be extendable and if the intending vendee fails to pay the balance of Rs.34 lakhs, the entire earnest money of Rs.9.5 lakhs shall stand forfeited.

3. Clause 5 related to property tax and is extracted below:-

"5. That any liability whatsoever regarding the plot including the property tax payable in respect of the aforesaid plot shall be paid and be payable by the intending vendor ti