https://www.taxtmi.com/caselaws?id=199836 The Supreme Court examined whether a 1950 document constituted a mortgage by conditional sale under section 58(c) of the Transfer of Property Act or a sale with an option to repurchase. Reading the instrument as a whole, it found that the consideration was used to discharge prior debts rather than advanced as a loan, possession and enjoyment passed with ownership rights, and the transferee could mutate and deal with the property as owner. The absence of a corresponding right of foreclosure and the presence of strong title-transfer indicators were inconsistent with a mortgage by conditional sale. The transaction was therefore treated as a sale with an option to repurchase. en-us Thu, 05 Mar 1992 00:00:00 +0530 Wed, 14 Mar 2018 09:59:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199836 The Supreme Court examined whether a 1950 document constituted a mortgage by conditional sale under section 58(c) of the Transfer of Property Act or a sale with an option to repurchase. Reading the instrument as a whole, it found that the consideration was used to discharge prior debts rather than advanced as a loan, possession and enjoyment passed with ownership rights, and the transferee could mutate and deal with the property as owner. The absence of a corresponding right of foreclosure and the presence of strong title-transfer indicators were inconsistent with a mortgage by conditional sale. The transaction was therefore treated as a sale with an option to repurchase. Case-Laws Indian Laws Thu, 05 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199836