case may be, without
consideration or for a consideration which he knows to be
inadequate. When the Court is called upon to consider
whether ... public servant of any valuable thing
without consideration or for a consideration which he knows
to be inadequate from any person whom he knows
supported by consideration
but only in part and that even the recited consideration in
the sale deed is thoroughly inadequate and that the sale
deed ... sale deed was
not supported by consideration and even recited
consideration Rs. 16,500 was grossly inadequate and
extremely low consi-
117
dering the extent
defaulter transfers
immovable property to a near
relative or for grossly inadequate
consideration after public revenue
due on any land from has fallen in
arrears ... defaulter transfers immovable property to a near relation or
for grossly inadequate consideration, after public revenue
on any land from his has fallen in arrears
Courts below
have found that all these alienations were
effected for inadequate consideration. It has also
been found that ... whether both the said transfers were effected for
grossly inadequate consideration.
The next question which has been raised on
behalf of defendant
aside for the reasons that geographical location of the property or
inadequate consideration and rise/escalation of price during the
pendency of the case ... earnest money with damages.
21. So far as the issues of inadequate consideration and rise in price
are concerned, both the parties have argued
same cannot
be assailed on the ground of undue influence or inadequate
consideration. Trial court also held that a suit for cancellation of sale
deed ... necessity to mortgage or sell the
suit property for such inadequate consideration of Rs.30,000/-. The
first appellate Court placed burden of proof upon
consideration; but for the purpose of the Act a transfer
for inadequate consideration is to be deemed to be a gift
under section ... Section. It is to be found that the transaction was on
inadequate consideration and the parties deliberately showed
the valuation of the two properties
gift of the machinery to
each of its five partners for inadequate consideration and, therefore, the
transaction was assessable to gift tax. This Court distinguished ... unable to accept the
contention that it was for inadequate consideration so as to amount to a
taxable gift within the meaning of section
criminal misconduct if he habitually accepts
any valuable thing for inadequate consideration not only
from outsiders who are likely to be concerned in any
proceeding ... obtains......
for himself .... any valuable thing without
consideration or for a consideration which he
knows to be inadequate, from any person (whom
he knows
property of the Corporation has been disposed of for a
wholly inadequate consideration
The fourth point raised is that the plot No. 14
acquired
