purpose. Thus, the property is requisitioned under section 3 and acquired under section 7 of the Act. Section 6(2) relates to the release from ... appellants are entitled to take advantage of the same under section 53A of the Transfer of Property Act. The objection of the respondent
inserted in section 17 of
the Registration Act, 1908 which requires such a contract to be
registered for the purpose of section 53A ... section (1A) inserted in section 17
of the Registration Act mandates such a contract to be registered for
the purpose of section 53A
under section 45 and is entitled to deduction under section 48 of the I.T. Act as under :-
Rs.
9,00,000
Under section ... took into account provisions of section 2(47) (v) of Income-tax Act along with section 53A of Transfer of Property Act and concluded that
section can only be relied on as a defence and not as the foundation of an action. The first requirement mentioned in Section 53A ... section. We find ourselves unable to accept Suleman v. Patell as a correct exposition of the law on this point.
14. If Section 53A cannot
from Section 63 of Section 16 amongst the enumerated sections is a clear indication of the intention of the legislature that that section should apply ... omission of Section 16 from the enumerated sections in Section 63 of Act XX of 1929, I am of opinion that Section 53A was intended
That the relevant provisions of section
2(47) as also the provisions of section 53A of the Transfer
of Property Act, 1882 qua the facts ... referred to provisions of section 2(47)(v) of
IT Act and Section 53A of T.P. Act and submitted that following
conditions emerged
transfer' in terms of section 2(47) of
the Act read with section 53A of the Transfer of Property Act, 1882.
6.2 That ... addition as according to him
requirement of section 2 (47) for transfer read with section 53A of the
transfer of property act are met. Therefore
case
within the ambit of Section 2(47) of the Income Tax Act read with
Section 53A of the Transfer of Property Act. Since ... transfer' as enumerated in Section 2(47) is reproduced below:-
Section 2(47) :- As per Section. 2(47) of Income Tax Act, 1961 , unless
Section 53A
of Transfer of Property Act.
v) Documents/claims/deductions/expenses submitted but
not allowed.
5. As regards Properties sold are not Capital Assets ... section (1A) of
section 17 provides that the document containing contracts to
transfer for consideration, any immovable property, for the
purpose of section 53A
wake of amended section i.e. Section 2(47)(v) of the Act. After extracting the provisions of section 53A ... instant case, all the conditions stipulated in section 2(47)(v) read with section 53A of the T.P. Act are fulfilled. The developer
