dishonoured, the Sale Deed shall stand automatically cancelled. The
assessee referred to the terms of Sale Deed for cancellation of the Sale Deed on
dishonour ... sale. In the case
of the assessee, there was not an absolute and complete sale as defined
hereinabove. At the most, the sale deed
dishonoured, the Sale Deed shall stand automatically cancelled. The
assessee referred to the terms of Sale Deed for cancellation of the Sale Deed on
dishonour ... sale. In the case
of the assessee, there was not an absolute and complete sale as defined
hereinabove. At the most, the sale deed
Sh. Vandeep Singh Shergil, Barnala vs Assessee on 9 July, 2014
IN THE INCOME TAX
dishonoured, the Sale Deed shall stand
automatically cancelled. The assessee referred to the
terms of Sale Deed for cancellation of the Sale Deed on
dishonour ... sale. In the case of the assessee, there
was not an absolute and complete sale as defined
hereinabove. At the most, the sale deed
developments within
six months from the dates of the deeds of sale (which, in view of the
fact that time was not of the essence ... absolutely to carry out the same. That undertaking imported a
liability on the appellant which accrued on the dates of the deeds of
sale, though
Khushwant Singh is absolute owner of the property in question. There is no mention in the preamble of the said deeds that the property ... assessee.
20. There is absolutely no material to hold that the apparent consideration adopted in the sale deeds is relatable to one or the other
conveyance deed was executed on 4.1.2007. There is a specific recital in
the said conveyance deed dated 4.1.2007 that the assessee got the
absolute ownership ... made a
declaration in the conveyance deed dated 4.1.2007 to the effect that it
acquired absolute ownership and possession of the property in question
under
that the price stated in the sale-deed must irrespective of anything also be considered to
be the sale price for the purpose of computing ... sale deed cannot be questioned at all. The
judgment if read as a whole does not indicate such an absolute or blanket rule.
There
Tribunal observed that having recited in
the sale deed that the assessee had become absolute ownership of the
property on 2.11.2004, the assessee company could ... conveyance
deed. However, the Ld. Counsel for the assessee, before us, has submitted
that the conveyance deeds for sale of property at Kapurthala, Pathankot,
Jalandhar
assessee firm
sold 54 plots. The sale deeds have been executed and prices as per the sale
deed have been duly recognised by the assessee ... sale rate of
Rs. 7000 per sq. yards. It was submitted that it is a settled preposition of law the
sale deed as well
