JUDGMENT - Dr. B.P. SARAF, J.:---By this writ petition the petitioner has challenged the order of Appropriate Authority dated 26th February, 1993 under sub-section (1) of section 269-UD of the Income Tax Act, 1961 (`the Act) directing the purchase of the property in question by the Central Government. The facts of the case briefly stated are as follows :

The petitioner is the owner of a flat being Flat No. 403, Parishram, situated at 320, Pali Hill, Bandra, Bombay. The petitioner entered into an agreement dated 5th February, 1990 for the sale of the above flat with Shri Amarnath, Smt. Kamala Amarnath and Shri Rakesh Kapoor (the purchasers). By the said agreement of sale, the petitioner agreed to sell and the purchasers agreed to purchase the said flat along with five shares of Rs. 50/- each held by the petitioner in the Co-operative Housing Society for a consideration of Rs. 29.50 lakhs. Of the said consideration, an amount of Rs. 1 lakh was payable as the earnest money on the execution of the agreement while the balance amount of Rs. 28.50 lakhs was to be paid on the completion of the sale. Clause 8 of the said agreement provided that the sale would be completed on the payment of

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