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W. T. AS. NOS. 1271/LB AND 1272/LB OF 2002, DECIDED ON 15TH AUGUST, 2003. versus W. T. AS. NOS. 1271/LB AND 1272/LB OF 2002, DECIDED ON 15TH AUGUST, 2003.


Sections 2 (16), 16 (3) and 17B Wealth Tax Rules, 1963, R8 (3) Transfer of Property Act (IV of 1882), value of plot under section 53A property owned property plot Announces the sale contract registered with the Sub-Registrar Appraisal Officer according to the district collector's rates. Assisi claimed that no sale was done for the plot and the title has not yet been made. Had passed away and is not responsible for owning it as its owner. The amount paid for the purchase of the plot was valid in the sense that the seller of the plot of the land received the full payment and handed it over to the buyer in the presence of possession, regular documents, such as a contract, not a registered seller. In any way, neither the buyer's rights in the said property nor any person claiming the title of the plot under the seller can alter the buyer's rights for his loss. Of the aforesaid plots of land for all practical purposes and for the purposes of the collection of wealth tax under the Wealth Tax Act, 1963, the Assisi made full payment with acceptance and did not include any prepayment. It did. Because of this, he could not approve and react in the same breath as part of his real estate assessment. Assisi paid the seller in full under the sale agreement and was fully in possession of such plot at the date of its sale. The first appellate authority was misunderstood in its view that the SCCC was not the rightful owner of the plot;

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