assessee incurred expenditure of Rs. 2,19,998. There was outright sale of certain pieces of land in favour of the assessee and others ... sale deeds dated 1-8-1972, 1-8-1972 and 19-3-1973. The assessee and the co-purchasers named in those sale deeds acquired
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
which was
duly reflected in the book of assessee. But the sale deed was not executed in
the name of transferee due to some problem ... impugned order
that the sale deed dated 02.07.2011 has clearly recorded that the
assessee continued to be the absolute owner of the property and that
conveying absolute ownership/interest over the
property in favour of the Assessee because such ownership/absolute interest is
conveyed only by deed of sale dated ... sale dated 19.4.1994 such possessory right got enlarged into
an absolute ownership rights. We are of the view that the sale deed merely recognized
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
developments within six months
from the dales of the deeds of sale (which, in view of the fact dial lone was not
of the essence ... absolutely
absolutely to carry out the same. That undertaking
imported a liability on the appellant which accrued on the dates of the deeds of
sale
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. The undertaking imported a liability
on the appellant which accrued on the dates of the deeds of sale, though
Note No. MDS/011/Cal/135 dated 1-2-1983. The Lease Deeds entered into between the Lessors and BEML have already been furnished ... lease deed clearly shews that this is a transaction of a perpetual lease of 99 years and not a Sale absolute. It is also confirmed
does not essentially mean holding of
a property pursuant to an absolute deed. [Para 10]
■ The agreement between SIDCO and the assessee refers the assessee ... property as
that of an absolute owner except to fulfil the terms and conditions of the
lease-cum-sale deed. In other words, the assessee
does not essentially mean holding of
a property pursuant to an absolute deed. [Para 10]
■ The agreement between SIDCO and the assessee refers the assessee ... property as
that of an absolute owner except to fulfil the terms and conditions of the
lease-cum-sale deed. In other words, the assessee
