https://www.taxtmi.com/caselaws?id=374595 An unregistered banachitthi was not treated as unenforceable merely because it affected immovable property; under section 49 of the Registration Act, it could still operate as evidence of a contract and for collateral purposes. The Tribunal found the sale consideration paid to the confirming party was routed through banking channels and confirmed in a section 131 statement, and the record did not show the arrangement to be sham or a colourable device. On that factual basis, the addition was held unsustainable and the deletion by the first appellate authority was upheld. en-us Wed, 03 Oct 2018 00:00:00 +0530 Tue, 05 Feb 2019 06:14:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374595 An unregistered banachitthi was not treated as unenforceable merely because it affected immovable property; under section 49 of the Registration Act, it could still operate as evidence of a contract and for collateral purposes. The Tribunal found the sale consideration paid to the confirming party was routed through banking channels and confirmed in a section 131 statement, and the record did not show the arrangement to be sham or a colourable device. On that factual basis, the addition was held unsustainable and the deletion by the first appellate authority was upheld. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374595