( 1 ) THE house property in question, A-208, Defence Colony, New Delhi, belonging to the third respondent stood on a piece of land measuring 285 sq. yards. The land underneath the house was originally acquired by the third respondent s predecessor in-interest from Landdo by means of a lease deed dated January 20,1960, superseded by deed dated October 13, 1978. By virtue of an agreement dated April 7,1993 the - third respondent agreed to sell the property to the petitioner at an apparent price of Rs. 57. 50 lacs. At the. time of execution of the agreement to sell the petitioner paid a sum of Rs. 8 lacs to the third respondent. Regarding payment of the remaining amount by the petitioner, the agreement provided that a sum of Rs. 49 lacs would be paid on receipt of the permission of the Appropriate Authority for the sale of the property and the balance of Rs. 50,000. 00 at the time of registration of the sale deed. The agreement also required the petitioner to obtain the requisite permission from the Appropriate Authority under Chapter XXC of the Income Tax Act, 1961 and that of the Landdo within a period of nine months of the signing of the agreement to sell. It fur