Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
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As per the provisions of Section 47 of the Registration Act, 1908, interpreted by the Supreme Court, a registered document shall operate from the time it would have commenced to operate if no registration was required, not from the time of registration. If the sale deed is executed and consideration paid before execution, after registration, it operates from the date of execution. Any changes made with parties' consent also relate back to the execution date. Therefore, the deed of conveyance executed on 31.03.2017 shall operate from that date. Since Section 56(2)(x) was inserted by Finance Act, 2017 w.e.f. 01.04.2017, it is not applicable to this case where the deed was executed before that date. It can only apply to deeds executed on or after 01.04.2017 involving immovable property received. The assessee's appeal is allowed.
As per the provisions of Section 47 of the Registration Act, 1908, interpreted by the Supreme Court, a registered document shall operate from the time it would have commenced to operate if no registration was required, not from the time of registration. If the sale deed is executed and consideration paid before execution, after registration, it operates from the date of execution. Any changes made with parties' consent also relate back to the execution date. Therefore, the deed of conveyance executed on 31.03.2017 shall operate from that date. Since Section 56(2)(x) was inserted by Finance Act, 2017 w.e.f. 01.04.2017, it is not applicable to this case where the deed was executed before that date. It can only apply to deeds executed on or after 01.04.2017 involving immovable property received. The assessee's appeal is allowed.
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