TaxTMI 
TaxTMI 
2019 (12) TMI 1394
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....ss for Corporate Persons) Regulations, 2016, dated 08.10.2018 in the capacity of Home Buyer. The detail of quantification of the sum of Rs. 25 Lakhs is given by way of tabulation by the Applicant in the Application itself at paragraph 1.1 of the Application, which is extracted below for ready reference: Details of Registered document No. for registration of UDS of land Corresponding Memorandum of Agreement specifying project and flat No. Details of payments made as per registered agreement Details of payment as per memorandum of Agreement Regd. Doc No. 572/2011 dated 15.03.2011 Registered with Sub Registrar Office Thiyagaraya Nagar T-Nagar Flat No. AG-1 Rs. 2,60,000 confirmed in reg. agreement Cas....
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....ex facie not supported by any proof of proper consideration having been paid by the Applicant as Home Buyer as there is an inconsistency between the records furnished namely, Cash Receipt as produced by Applicant and the registered documents namely the Sale Agreement dated 15.03.2011 as well as the Memorandum of Agreement dated 15.03.2011 in relation to T Nagar property for a sum of Rs. 17,40,000/- which according to the Applicant is for booking and allotment of which the payment has been made by the Applicant to the Corporate Debtor. 5. It is also brought to the notice of this Tribunal in the Reply filed by the Resolution Professional that the registered agreement of sale records that a sum of Rs. 2,60,000/- has been paid and balance is y....
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....olution Professional, wherein it has been brought to the notice of this Tribunal that even though a Claim has been made, the property/flat pertains to a project long before completed by the Corporate Debtor, much prior to the CIR commencement and is no longer a pending project and raised a suspicion as to why the Applicant had remained silent all these years and has now chosen to file this claim and this would show that the Applicant was not a genuine Home Buyer and he had perhaps entered into some financial arrangement with the erstwhile suspended management of the Corporate Debtor for which the said documents, which do not convey any title, came to be executed. It was further contended that the impugned transactions relied upon by the App....
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.... the Claim cannot be rejected and that the payment which is also extracted hereinabove by way of tabulation in Para supra are in relation to the purchase of properties, and hence, it is appropriate that the Applicant should be categorised as 'Home Buyer' and that the Resolution Professional was wrong in not entertaining the Claim as filed under Form CA meant for the Home Buyers. 9. It is further pointed out by the Learned Counsel for the Applicant that from the fact of acknowledgement in the registered document of the payment wherein the Corporate Debtor had clearly disclosed that the sums as reflected therein have been paid. Further, the payment made by way of cash as evidenced by Cash Receipt enclosed for a sum of Rs. 5 Lakhs dat....
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....tions in all respects. 11. The Resolution Professional questioned by juxtaposition of the said two documents and contents that even though the entire payment of Rs. 7.6 Lakhs as agreed upon by the Applicant seems to have been paid on 15.03.2011 itself and in the circumstances as to why only Rs. 2.6 Lakhs has been reflected in the said registered document as having been paid and the balance amount of Rs. 5 Lakhs had been left out of the said amount of Rs. 7.6 Lakhs not acknowledged of having been received even though stated to have been received in cash on the same day itself. 12. Further, the filing of the claims in the capacity of the Home Buyers in Form CA, the Applicant has chosen to rely on the booking of T. Nagar property which can o....