Judgment

Pattanaik, J.-This appeal is directed against the judgment and order dated 6th March, 1997, passed by the Division Bench of Karnataka High Court in Writ Appeal No. 1233 of 1996. The said Writ Appeal arises out of a proceeding initiated under Chapter XX-C of the Income Tax Act. The property in question is situated in Block 5, Jayanagar, Bangalore-560 measuring 85 feet from east to west and 122 feet from north to south bearing No. 483/24. Respondent No. 2 Shri A.G. Krishna is the owner of the property. He entered into an agreement of sale with respondent No. 1 Smt. Sudha Patil for a consideration of 63,44,000 under agreement dated 25.9.1995. The Appropriate Authority under the Income Tax Act in exer­cise of its powers under Section 269-UD of the Act passed an order for purchase of the property by the Central Government on an amount equal to the amount of consideration mentioned in the agreement to sale after due notice to the transferor of the property and after arriving at a conclusion that the pro­perty in question has been undervalued by a sum of Rs. 200/- per square feet. The aforesaid order was passed by the Appropriate Authority on 28.2.1996. It may be stated that the A