Questions & Answers On: Exemption u/s 54

Is section 54 benefit available for property bought by unregistered deed?
Subject: Is section 54 benefit available for property bought by unregistered deed?
Category:  Income Tax
Asked by: Mukeshbhai
Answered by:
Tags:
Date: September 14, 2018
Excerpt of answer:

The Hon’ble Supreme Court has opined that when an unregistered document is tendered in evidence, not as evidence of a completed sale, but as proof of an agreement of sale, the deed can be received in evidence making an endorsement that it is received only as evidence of an oral agreement of sale under the proviso to Section 49 of the Act of 1908