https://www.taxtmi.com/caselaws?id=66852 Sale consideration received under an unregistered sale deed, where possession had already been delivered, was treated as part of the assessee's wealth and not as a refundable liability. The purchaser's possession was protected under part performance, and the assessee had no enforceable contractual obligation to refund the amount. Mere non-registration did not convert the received consideration into a liability, and even if legal title was incomplete, the money remained with the assessee without any restitutionary duty. Section 65 of the Contract Act was held inapplicable on these facts, so the inclusion of the consideration in wealth was upheld. en-us Wed, 24 Jun 1987 00:00:00 +0530 Mon, 07 Mar 2011 17:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66852 Sale consideration received under an unregistered sale deed, where possession had already been delivered, was treated as part of the assessee's wealth and not as a refundable liability. The purchaser's possession was protected under part performance, and the assessee had no enforceable contractual obligation to refund the amount. Mere non-registration did not convert the received consideration into a liability, and even if legal title was incomplete, the money remained with the assessee without any restitutionary duty. Section 65 of the Contract Act was held inapplicable on these facts, so the inclusion of the consideration in wealth was upheld. Case-Laws Wealth-tax Wed, 24 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66852