Incorrect documents created by developer
Manohar
(Querist) 13 November 2016
This query is : Resolved
Dear Sirs,
Please guide me on the below issue...
My father-in-law owned land of one acre in Bangalore South. Around his land layout formed and his land in middle of the layout. Developer approached him and convinced him for JD at the ratio of 65:35.To for a layout in that one acre In the year 2013,Developer and land owner manually made agreement and GPA. Developer got 35%share 8100sqft two plots 382/383 and this was transferred thru sale deed, which was not known by my father-in-law. On 30/11/2013 my father-in-law decided to sale some portion of his plot to sale to the developer himself. So he sold 384no.1623 sqft plot to the developer for the price of 2000/sqft, he got 3250000rs. Developer issued cheques. Now problem starts here developer made two sale deed for 382/382 and 384 and got registered on the same day. Only one sale deed of plot no. 384 shown to my father-in-law, in this deed he mentioned payment details like payment done thru different cheques, however these cheques mentioned in the sale deed of plots 382/383, and value shown is 25lakh which is below market or guidance value. in this sale deed both selling price and market price mentioned in the sale deed causing the problem.
now IT department issued a notice to my father in law under 50C asking for the explanation for selling property lesser then guidance value. This notice issued to the second sale deed which was wrongly created by developer for plots 382/383. Now developer asking my father in law to pay tax of around ten lakhs, we really worried, can you please guide us. Can we file case on developer for creating two sale deeds without the knowledge of land owner, because land owner is a farmer and uneducated.
Thanks Manohar
adv.bharat @ PUNE
(Expert) 14 November 2016
You need to file case of 420 against the developer.
Rajendra K Goyal
(Expert) 14 November 2016
File case against the builder to cancel the sale deed fraudulently executed.
May file criminal case also.
Consult local tax consultant and reply the notice received by the Income Tax Department.
Rajendra K Goyal
(Expert) 15 November 2016
You have to move fast to control the damages.
