sale consideration Archives

Monthly rent payment cannot be accepted as sale consideration, without proper justification: Delhi High Court

The Court presumed that the absence of a reason for not disclosing the higher amount in the Agreement to Sell (‘ATS’), and the lack of explanation for payment of sale consideration disguised as rent is likely to evade taxes. This suppression made the 1982 ATS illegal, and against the public policy as per, Section 23 of the Contract Act, 1872.

Case Briefs Supreme Court

Specific Relief| Supreme Court shows dismay over Trial Court & Telagana HC’s orders allowing “hopelessly delayed” application seeking extension of time filed after 853 days; sets aside order

The Supreme Court was unimpressed with the explanation given by the plaintiff for the delay of 853 days that he initially fell sick with Jaundice and was later confined to house with High Blood Pressure, Diabetes and other diseases. The petition had extension of time to deposit the balance sale consideration of Rs. 15,00,000/-.

Case Briefs High Courts

Madras HC | Does buyer’s knowledge about dispute in title of subject property, will make him liable for offence of cheating, forgery and making false document? HC answers

Madras High Court: N. Anand Venkatesh, J., while addressing a matter expressed that: “…a transaction hit by lis pendens would not result

Case Briefs High Courts

When a sale deed is cancelled the revenue entry prior to it revives leaving no room for further declaration: Allahabad HC

Allahabad High Court: A Single Judge Bench comprising of Anjani Kumar Mishra, J. dismissed an appeal being devoid of merits. The appellant

Case Briefs High Courts

Market value of property need not be determined separately if auction is conducted by court

High Court for the States of Andhra Pradesh and Telangana: The Single Judge Bench of the High Court allowed a writ petition