Query for challenge property transaction
Querist :
Anonymous
(Querist) 01 February 2012
This query is : Resolved
I purchased a property in 2003 in delhi by paying cash consideration 1,07,000/- through sale deed with proper stamp duty in sub registrar court. Since all payment was made in cash there is no receipt of the same. I made the cash payment by selling gold inherited by my wife and now i don't have any proof of how cash was generated.
Can it be challenged by the seller now that no cash was paid and the transaction is null. how it can be defended?
ajay sethi
(Expert) 01 February 2012
does sale deed mention that full payment has been received by seller?
Querist :
Anonymous
(Querist) 01 February 2012
The Deed mention following :
"Whereas the vendor for his/her bonafide needs and requirements has agreed to sell the said property to the said vendee and vendee has also agreed to purchase the same for a sum of Rs 1,07,000/-. The entire consideration amount has been received in full and final settlement of the sale price and nothing due out of the sale price which is admitted by vendor from the vendee before the sub-registrar Delhi"
ajay sethi
(Expert) 01 February 2012
the language of sale deed is clear . the seller has admitted receipt of consideration of rs 1,07,000/. once seller has admitted receipt of consideration how can the agreement be null and void
Shastri J.K.
(Expert) 01 February 2012
I agree with mr.ajay sethi,
Querist :
Anonymous
(Querist) 01 February 2012
Please suggest how do i generate a proof of cash payment obtained by selling gold? Is the deed itself a proof of cash payment?
Sankaranarayanan
(Expert) 01 February 2012
My learned friend mr sethi given confidence on ur merit of query. More over the deed is written very clearly and she seller agcepted the full ammount. So no need to worry and the seller no legal right to claim it. Logically the income tax department only asked about the source of funds and mode of transation. Why you asked it now is any notice from them
V R SHROFF
(Expert) 01 February 2012
Once admitted receive the consideration, no one can challenge from where you got it. it is immaterial. Over and above it is a Registered Deed.
Raj Kumar Makkad
(Expert) 01 February 2012
You have already been replied well by all senior experts.
Querist :
Anonymous
(Querist) 02 February 2012
In 2003, there was no government fixed circle rates in delhi while in 2004 all property transactions were based on a minimum fix circle rate. Since my transaction is in year 2003, is it a case that it can be challenged due to less of payment made?
In fact i paid seller more cash than listed in the deed.
ajay sethi
(Expert) 02 February 2012
anonymous queries are not being replied by experts
V R SHROFF
(Expert) 02 February 2012
Can't answer the query, sorry.
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