آخر تحديث - 21 ديسمبر 2020
In addition, an ATS does not require mandatory registration under Section 17 of the Registration Act, 1908 (Registration Act) as well. This can be inferred from the fact that the list of instruments requiring mandatory registration under Section 17 does not contain ATS. In all cases, paragraph 17, paragraph 2, excludes certain documents, including an ATS, from the applicability of sections 17(1) a) and 17 (1) b). An ATS is excluded as a document class in accordance with section 17(2) (v). In addition, the explanatory note in Section 17 also states that a document that establishes or commissions a contract for the sale of real estate is not considered to have a registration obligation or is never required. 3. In brief facts of the case are that the notator is an individual who had sold a promotion file for the apartment of 26 and 27/12/2011. As part of a sale agreement executed on 16.09.2011 and taking into account rule 30 lakes, Rs. 1 lake, the auditor received the money from the expert in the form of advance/serious money when the purchase agreement was reached and the auditor acquired a new dwelling on 04.10.2010. AO has accepted the registration date of the property sold as a transfer date and since the acquisition of the new property on 04.10.2010, therefore, AO has decided that, since the new property was not acquired within one year of the date of the transfer of the former asset, AO has denied the benefit of appreciating section 54 of the Act. Annoyed, the notator filed an appeal with the Ld.
CIT (A), which confirmed the AO`s complaint, and the notator is therefore before us. … Piece of land of Gurbachan Singh (father of the complainant Nishan Singh). At the time of the issuance of cheque 986160, an unregreged sales contract was executed on the Bhumidhari-Land…. Shortly after the execution of this unregord sales contract, Anurag Sharma learned that the property in question had already been pledged by Gurbachan Singh on 4.10.2006 and 23.11.2… by Gurbachan Singh, the same thing having been spent against the sale of Gurbachan Singh`s land by an unregant sales contract, and after… If a financial asset right has died out and that right is transferred to someone, that would be the transfer of assets. Taking into account the above definition and taking into account the facts of this case, we find that the notator entered into a sale agreement for cause. The consideration of 30 lakes for its capital on 16.09.2011 for the transfer of the former building/heritage original in question and an amount of Rs.
1 lake in cheque was received in advance, although it was cashed only on 21.11.2011, we find that the cheque in question did not jump/consummate. Thus, as according to the decisive report in the Supreme Court decision in Sanjeev Lal, supra, we note that, in light of the above facts and with respect to the definition of “transfer,” it can be concluded that a right relating to the asset in question (former assets) had been transferred in favour of the Vendee and that a right that the notator had with respect to the asset in question had therefore been extinguished because, after the execution of the sale contract, the notator would not be able to sell the property to someone.