Revenue authority mandates using scheme-specific reversal procedures, not revising original entries, for instrument-based trade/customs benefits effec...
Transaction value under s.15(1) governs unrelated sales; valuation between related parties per Rule 28; consignment note required for unregistered rec...
SC held that an unregistered deed assigning a decree for specific performance of an agreement to sell immovable property is valid and does not attract mandatory registration under S.17(1)(e) of the Registration Act, 1908. The Court reiterated that neither an agreement of sale nor a decree for specific performance, by itself, creates or transfers right, title or interest in immovable property; such rights arise only upon execution and registration of a conveyance deed. As the underlying decree does not itself create proprietary rights, its assignment does not fall within the ambit of S.17(1)(e). Consequently, the assignment deed executed by X in favour of Y was held enforceable. The Executing Ct's refusal to execute was set aside, the HC's judgment was affirmed, and the appeal was dismissed.
SC held that an unregistered deed assigning a decree for specific performance of an agreement to sell immovable property is valid and does not attract mandatory registration under S.17(1)(e) of the Registration Act, 1908. The Court reiterated that neither an agreement of sale nor a decree for specific performance, by itself, creates or transfers right, title or interest in immovable property; such rights arise only upon execution and registration of a conveyance deed. As the underlying decree does not itself create proprietary rights, its assignment does not fall within the ambit of S.17(1)(e). Consequently, the assignment deed executed by X in favour of Y was held enforceable. The Executing Ct's refusal to execute was set aside, the HC's judgment was affirmed, and the appeal was dismissed.
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