1987 (10) TMI 6

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....82, declining to grant registration on the ground that the income-tax clearance certificate has not been produced. The sisters of the petitioner released and relinquished their undivided 3/40ths share in favour of the petitioner under a release deed executed on March 28, 1980, on stamp paper of Rs. 30 and the same was presented for registration on March 28, 1980. It is stated that the value of th....

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....g in force, where any document required to be registered under the provisions of clause (a) to clause (e) of sub-section (1) of section 17 of the Indian Registration Act, 1908 (16 of 1908), purports to transfer, assign, limit, or extinguish the right, title or interest of any person to or in any property valued at more than fifty thousand rupees, no registering officer appointed under that Act sha....

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....ding direct taxes. Subsection (1) provides that the clearance certificate is necessary if the valuation exceeds Rs. 50,000. The valuation of Rs. 50,000 is with reference to the right, title or interest of any person in the property. The criterion should be the value of the property or the interest of the person in such property that is sought to be transferred. The authorities have taken into cons....