Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
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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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