TMI Blog770/CBDT.X X X X Extracts X X X X X X X X Extracts X X X X ..... was written off on 16-1-71 on the ground that the assessee owned no property which could be used for recovery of tax. The demand in question was raised on three different dates viz. Rs. 46,835 on 30.3.1959, Rs.300 on 30.6.59 and Rs.6,500 on 28.3.62. The assessee sold his house property for Rs.43,000 on 23.4.59, i.e., within one month from the receipt of the first notice. On 3.7.59, viz, a few days ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ime-barred on 23.4.1965." 2. Transaction of immovable properties of the value of Rs.50,000 or above normally come to the notice of the ITO in view of the provisions of section 230A of the IT Act, which require the production of a clearance certificate from the ITO before a document of transfer is registered under the Indian Registration Act, 1908. However, cases of transfer of properties of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... strictions placed by Section 230A of the IT Act, 1961, may confer rights on the transferee under Section 53A of the Transfer of Property Act. The Department's legal counsel should be consulted immediately on receipt of information relating to such transfers also. 5. These instructions may please be brought to the notice of all the officers working in your charge. - Circular - Trade Notice - Pu ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
