Blog Posts - Transfer Of Property Act



Over 750 Office Space Leases in Mumbai to Expire in 2016

The year 2016 is the year for taking up offices on lease basis. As per research conducted by PROPSTACK, a commercial real estate information and analytics company, the sums involved in the lease renewal, consisting of an average period of thirty-six...
by Mowing the Law on Apr 9, 2016

Value of FSI and TDR not to be included in Land Value u/s 50C of IT Act

Generally, the provisions of Indian tax laws provide that transfers of immovable property must be at a fair valuation. However, the Income Tax Appellate Tribunal (‘ITAT’), Mumbai Bench, has ruled, in Income-tax Officer v. Shri Prem Ratt...
by Mowing the Law on Apr 7, 2014

Value of FSI and TDR not to be included in Land Value u/s 50C of IT Act

Generally, the provisions of Indian tax laws provide that transfers of immovable property must be at a fair valuation. However, the Income Tax Appellate Tribunal (‘ITAT’), Mumbai Bench, has ruled, in Income-tax Officer v. Shri Prem Ratt...
by Mowing the Law on Apr 7, 2014

Section 50C of ITA not applicable to transfer of Immovable Property held through Co.

In Irfan Abdul Kader Fazlani vs. ACIT (ITAT Mumbai) (Entire order available here) the assessee was the shareholder of a company called Kamala Mansion Pvt. Ltd (KMPL). KMPL owned flats in a building known as Om Vikas Apartments, located at Walkeshwar...
by Mowing the Law on Dec 1, 2013

Section 50C of ITA not applicable to transfer of Immovable Property held through Co.

In Irfan Abdul Kader Fazlani vs. ACIT (ITAT Mumbai) (Entire order available here) the assessee was the shareholder of a company called Kamala Mansion Pvt. Ltd (KMPL). KMPL owned flats in a building known as Om Vikas Apartments, located at Walkeshwar...
by Mowing the Law on Dec 1, 2013

Introduction to Property Tax in India

Property tax in India is not as easy to understand as someone might think. However, if we dissect it into smaller and simpler to understand parts, it will definitely make things a lot easier.The property tax rates in India have been rationalized to m...
by Mowing the Law on Oct 11, 2013

Introduction to Property Tax in India

Property tax in India is not as easy to understand as someone might think. However, if we dissect it into smaller and simpler to understand parts, it will definitely make things a lot easier.The property tax rates in India have been rationalized to m...
by Mowing the Law on Mar 15, 2013

Validity Of “Unregistered Agreement For Sale / General Power Of Attorney/Will Transfers” - Supreme Court Ruling

The Supreme Court, in the case of Suraj Lamp & Industries Pvt. Ltd. Vs. State of Haryana & Anr., held that the transactions of the nature of ‘GPA sales’ or ‘SA/GPA/WILLtransfers’ do not convey title and do not amount to transfer,...
by Mowing the Law on Oct 19, 2012


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