Land Holding Agreement

“1. Ld. CIT (A) has an error on the facts and the legal fact in confirming AO`s claim by obtaining the date of purchase of land as 13.04.2010 in relation to the date of acquisition of land as a short-term capital gain instead of the long-term gain. by the noted. It is customary for the staggered payments of the purchase price to be similar to high-rise mortgage payments. The amount is often determined according to a mortgage amortization plan. In fact, each staggered payment is a partial payment of the purchase price and a partial interest payment on the unpaid purchase price. This is comparable to mortgage payments, which are a partial repayment of the principal mortgage amount and partial interest. Since the buyer pays more over time for the amount of the loan`s principal, his capital (just title or reasonable interest) increases on the property. If a buyer z.B.

a down payment of 2000 USD and borrows 8000 USD for a land worth 10,000 USD, and pays in additional $4,000 of this loan (excluding interest), the buyer has $6,000 of equity in the campaign (or 60% of the fair property), but the seller owns the right of the country, as recorded in the documentation (documents) in a government office until the loan is fully paid. However, if the purchaser makes staggered payments late, the land contract may treat non-payment as a contractual breach and the share capital may be returned to the seller depending on the terms of the ownership agreement. Land contracts financed by the seller may include land or land and all land values. Assets contained in a field contract may include residential homes, swimming pools, tennis courts, basketball courts, barns or racetracks. All assets located in the countryside and included in a land contract have an impact on the price. The seller holds the title to the property until the full payment to which the title is transferred. 4. On the other hand, ld. DR submitted that the provisions of Section 53A of the transfer of assets cannot be applied if the notator, if the property cannot legally be transferred, until and unless it is converted from farmland to non-agricultural land. The sellers of agricultural land belong to Scheduled Kasten Community and therefore, according to Section 42 of the Rajasthan Tenancy Act of 1955, any sale, gifts or tenedation of unrepentant land for the benefit of anyone who is not a member of the caste and Tribe calendar is prohibited. The contract for the sale of 11.04.2007 is legally unenforceable and therefore does not constitute a transfer of land under Article 2 (47) of the Act. LD DR also submitted that under the 1908 Registration Act, any real estate transfer contract is registered for section 53A of the Transfer of Ownership Act if it was executed on the date or after the registration and other related laws begin.

Amendment Act 2001 and, therefore, whether the land transfer agreement is to be registered.

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