2025 (12) TMI 538

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....untants For the Respondent : Shri M.S Nethrapal, CIT-DR ORDER PER VIKAS AWASTHY, JM: This appeal by the assessee is directed against the Assessment Order passed u/s. 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') dated 24.06.2022, for Assessment Year 2018-19. 2. Ms. Manju Goel, appearing on behalf of the assessee submitted that the short is....

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.... to India a Supplementary Agreement was signed on 23.05.2018 by the assessee with the developer, whereby consideration was revised and reduced to Rs. 5.15 crores. It is pertinent to mention here that neither the original PDA nor the Supplementary Agreement was registered. Admittedly, the assessee received Rs. 3.39 crores during FY 2017-18 and the balance amount of consideration was received by the....

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....ee's own admission, the assessee has received consideration amounting to Rs. 3.39 crores during FY 2017-18. The assessee ought to have offered the same to tax in his return of income for AY 2018-19. No such income was offered to tax by the assessee in the ITR. He thus, prayed for dismissing appeal of the assessee. 4. Both sides heard, orders of the authorities below examined. The fact that the ....

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.... 2018-19. 5. The Hon'ble Supreme Court of India in the case of Balbir Singh Maini (supra) after referring to the amended provisions of section 53A of the Transfer of Property Act and sections 17 & 49 of the Indian Registration Act held that, unless the document containing the contract to transfer for consideration of any immovable property is registered, it shall not have any effect in law. Thu....