M.C. Agarwal, J.

1. BY this petition under Article 226 of the Constitution of India, the petitioner challenges an order dated August 30, 1994, passed by the Appropriate Authority, Lucknow, under Section 269UD of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), ordering the purchase of plot No. B-70, Sector 14, NOIDA, for a consideration of Rs. 14,57,149.

2. WE have heard Sri Ravi Kant, learned counsel for the petitioner, and Sri Shekhar Srivastava, learned standing counsel for respondents Nos. 1 and 2. No one appeared for the landlord (lessee), respondent No. 3.

Smt. Krishna Kalra, respondent No. 3, acquired the aforesaid plot, measuring 406.25 sq. mtrs., from the New Okhla Industrial Development Authority (hereinafter referred to as "NOIDA") on a lease of 99 years for a premium of Rs. 73,937.50, by lease deed dated October 29, 1981. She entered into an agreement with the petitioner on May 7, 1994, to sell her rights in the said plot for a consideration of Rs. 14,90,000. A sum of Rs. 1,60,000 was paid by way of earnest money and the balance was to be paid at the time of the execution of the sale deed that was to be executed on or, before August 30, 1994. A