https://www.taxtmi.com/caselaws?id=20583 A document that itself releases or extinguishes rights in immovable property for consideration is compulsorily registrable, and an unregistered instrument cannot be relied on to prove an effective transfer. On that basis, the alleged 1976 release of usufructuary mortgage rights could not support an earlier transfer or exclude the agricultural income from assessment. The later registered conveyance in 1985 was treated as the effective transfer, so possession and enjoyment remained with the assessee until then. A separate finding that the transfer was without adequate consideration also supported inclusion of the income under the agricultural income-tax statute. en-us Thu, 24 Jun 1993 00:00:00 +0530 Sat, 14 Nov 2009 18:07:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20583 A document that itself releases or extinguishes rights in immovable property for consideration is compulsorily registrable, and an unregistered instrument cannot be relied on to prove an effective transfer. On that basis, the alleged 1976 release of usufructuary mortgage rights could not support an earlier transfer or exclude the agricultural income from assessment. The later registered conveyance in 1985 was treated as the effective transfer, so possession and enjoyment remained with the assessee until then. A separate finding that the transfer was without adequate consideration also supported inclusion of the income under the agricultural income-tax statute. Case-Laws Income Tax Thu, 24 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20583