SA/GPA/WILL transfers do not convey title to immovable properties- An important judgment by SC

0 comments Monday, October 31, 2011
 
Supreme Court of India in an important case namely Suraj Lamp & Industries Pvt. Ltd. Versus State of Haryana & Anr. has held that immovable property can be legally and lawfully transferred/conveyed only by a registered deed of conveyance. Transactions of the nature of ‘GPA sales’ or ‘SA/GPA/WILL transfers’ do not convey title and do not amount to transfer, nor can they be recognized or valid mode of transfer of immoveable property. They cannot be recognized as deeds of title, except to the limited extent of section 53A of the TP Act.
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No disallowance u/s 40(a)(ia) for short deduction of TDS-Kolkata ITAT

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Kolkata ITAT in Deputy Commissioner of Income-tax Vs.  M/s. S. K. Tekriwal  has given a very important decision wherein it has settled that disallowance of u/s 40(a)(ia) if for non deduction of the requisite Tax. However no disallowance can be made u/s 40(a)(ia) for short deduction of tax or for deduction of tax under any other section. 

In this case the assessee deducted tax u/s 194C @ 1% whereas as per department he was required to deduct tax u/s 194I @ 10% hence there was shortfall of TDS, on this ground the disallowance was made. But the ITAT decided the matter in favour of assessee with following observations:
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