Welcome, Guest    
 
Login  Contact Us RSS Feeds
Home
  Add Property                
Register Free to find a Perfect life partner In AnytimeMatrimony | Equated Monthly Installment(EMI) Calculator | Stamp Duty Calculator | Area Conversion Calculator | Know answer for your Taxation query | Ask Legal Advice @ Free of cost | Vaastu Tips
FAQ Sitemap
 
Newsletter Signup
Subscribe for our property news letter



 
 
News Search
Type a keyword to search.



[OR]

Select a city to search property news.


 
 
News Archieves
September 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
September 2008
June 2008
February 2008
January 2008
December 2007
November 2007
 
 
External Links
 ICICI Home Loans
 LIC Housing
 HDFC Home Loans
 SBI Home Loans
 Axis Bank Home Loans
 Tamilnadu Govt Links
adProperty News

     
 
Will loss of the original deed diminish value
Source : The Hindu Property Plus Published On : 2007-12-29 City : Chennai

The I.T. Department acquired a property at Gandhi Nagar, Adayar when the agreement for this sale relating to property was submitted for getting the No Objection certificate. This was done on the ground that the apparent consideration was less than the market value . The department assessed that the difference between the market value and registered value was more than 15 percent.                                                                     

 

The parties involved submitted that one of the reasons for the reduction in price was that the original title deed property was lost and the buyer was willing to take the risk and make alternative arrangements for it. The additional cost so incurred was adjusted in pricing of the property. However the department overruled this this and acquired the property. The parties appealed (289 ITR 61(Mad) Ashok Leyland Finance Ltd vs Appropriate Authority, IT Department Judgement dated 12.12.06 ) and a single judge dismissed it. The parties subsequently appealed against the order of the single judge. The division bench set aside the order of the single judge and also quashed the pre-emptive purchase by the IT department.

 
 

The High Court observed that the loss of title deeds of the property is one of the relevant factors and it would undoubtedly diminish the value of the property.

    Back
 
     

 

More on Anytimeproperty
 
City Based Properties
 
Useful Tools Property News Search Property Calculators Others
© 2017 Any Time Property All Rights Reserved. Home | About Us | Advertise | Testimonials | Help & Support | Contact Us | Careers | FAQ | Feedback | Sitemap
Privacy Policy | Terms and Conditions Developed by Snick Technologies