https://www.taxtmi.com/caselaws?id=58503 Ownership of an immovable property for net wealth purposes was not complete until registration of the conveyance deed, so the bungalow could not be treated as belonging to the assessee on the valuation dates. Section 47 of the Registration Act, 1908 did not displace the requirement that title pass only upon registration. In the absence of a registered title deed in the assessee's favour, the residential house was excluded from assessment as an owned asset, and rule 1BB of the Wealth-tax Rules, 1957 was held inapplicable. The amount already paid under the conveyance was nevertheless treated as an asset. en-us Thu, 12 Feb 1987 00:00:00 +0530 Mon, 20 Dec 2010 12:44:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58503 Ownership of an immovable property for net wealth purposes was not complete until registration of the conveyance deed, so the bungalow could not be treated as belonging to the assessee on the valuation dates. Section 47 of the Registration Act, 1908 did not displace the requirement that title pass only upon registration. In the absence of a registered title deed in the assessee's favour, the residential house was excluded from assessment as an owned asset, and rule 1BB of the Wealth-tax Rules, 1957 was held inapplicable. The amount already paid under the conveyance was nevertheless treated as an asset. Case-Laws Wealth-tax Thu, 12 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58503