https://www.taxtmi.com/caselaws?id=462791 A transaction described in registered documents, read with the surrounding circumstances, was treated as a mortgage by conditional sale because the parties were identified as mortgagor and mortgagee, redemption within seven years was stipulated, the mortgagor had to bear taxes and repairs, and foreclosure was provided for. The court held that the real intention of the parties is the decisive test in distinguishing such a mortgage from an outright sale, and that the statutory right of redemption under property law cannot be extinguished by a term inserted at the inception of the mortgage. On that basis, redemption remained available and the decree for redemption with possession was maintained. en-us Mon, 13 Dec 2004 00:00:00 +0530 Wed, 16 Jul 2025 14:17:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462791 A transaction described in registered documents, read with the surrounding circumstances, was treated as a mortgage by conditional sale because the parties were identified as mortgagor and mortgagee, redemption within seven years was stipulated, the mortgagor had to bear taxes and repairs, and foreclosure was provided for. The court held that the real intention of the parties is the decisive test in distinguishing such a mortgage from an outright sale, and that the statutory right of redemption under property law cannot be extinguished by a term inserted at the inception of the mortgage. On that basis, redemption remained available and the decree for redemption with possession was maintained. Case-Laws Income Tax Mon, 13 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462791