Law:

Section:

Section 269UC of the Income-tax Act, 1961 - Purchase of immovable property by Central Government - Other provisions - In pursuance of a public auction notice, Income-tax authorities had conducted an auction sale and put up for sale several parcels of properties they had acquired by pre-emptive purchase under Chapter XX-C - Petitioner was highest bidder of two properties in said auction - Petitioner had deposited part of sale consideration in respect of said properties and did not remit balance sale price - In view of non-deposit of balance sale consideration, Chief Commissioner forfeited amount which petitioner had deposited till then as per terms and conditions of sale - In writ, petitioner contended that forfeiture order was unfair and arbitrary - Whether since petitioner emerged as highest bidder, but did not deposit full consideration, petitioner had to blame himself and there was nothing arbitrary or unfair in impugned orders of forfeiture as orders were in consonance with terms and conditions of sale - Held, yes FACTS Pursuant to a public auction notice, the Income-tax authorities had conducted an auction sale and put up for sale several parcels of properties they had acquired by pre-emptive purchase under Chapter XX-C. The petitioner offered the highest price in the said auction bid in respect of two properties. The petitioner had deposited a part of sale consideration in respect of said properties. Thereafter, in view of the non-deposit of the balance sale consideration, the Chief Commissioner by invoking terms and conditions of said sale, forfeited the amount which the petitioner had deposited till then. In writ, petitioner's case was that forfeiture order was blatant arbitrary and unfair action on the part of the respondents and it was fully justified in not paying the sale price as the respondent was not in a position to convey the very properties which had been advertised for sale and based on which the petitioner offered its bids. HELD The petitioner was only a person who participated in an auction bid. A person like the petitioner who participated in auction sale, took his chance. He had no special constitutional right or otherwise, the violation…

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