DIPAK KUMAR SEN, A. C. J.

( 1 ) THE material facts on record and proceedings leading up to this appeal are, inter alia, that by deed dated July 15, 1983, executed by Girdharilal Jagatramka, respondent No. 2, a public charitable trust, named, Savitri Devi Seva Trust, respondent No. 1, was created. On or about January 4, 1984, the Commissioner of Income-tax, West Bengal-VII, issued certificates respectively under Sections 12a and 80g of the Income-tax Act, 1961, certifying, inter alia, that respondent No. 1 had been duly registered and that it was an institution established in India for the prescribed charitable purposes.

( 2 ) ON or about June 9, 1986, an agreement was entered into by and between the owners of premises No. 58/6, Prince Anwar Shah Road, Calcutta, hereinafter referred to as "the said property" and the six trustees of respondent No. 1 whereby the former agreed to sell to the latter, the said property consisting of land measuring 4 cottahs 13 chittacks and 18 sq. ft. and unfinished brick buildings and structures thereon on an "as is where is" basis for a consideration of Rs. 9 lakhs. A sum of Rs. 5 lakhs was paid by the said trustees by way of earnest money by seven s

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