1998 (3) TMI 126

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....C. J.---The Income-tax Appellate Tribunal referred the following question under section 256(2) of the Income-tax Act, 1961 : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in holding that capital contributed by a partner, Kashiram Agarwala (HUF), in the form of land was genuine and it became the property of the assessee-firm?" The competent ....

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....estion in favour of the partnership firm. Section 17 of the Registration Act, 1908, hereinafter referred to as the Act, lays down as follows : "Documents of which registration is compulsory.---(1) The following documents shall be registered, if the property to which they relate is situate in a district in which, and if they have been executed on or after the date on which, Act No. XVI of 1864, ....

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.... owner, in the eye of law, no right whatsoever has been transferred from the land in question. Therefore, it is unnecessary for the competent authority to have raised the question under reference inasmuch as so long as no right in respect of the immovable property has been transferred or passed in favour of the partnership firm by its real owner it is unnecessary for this court to deal with this q....