(c) The remaining sum of 53.00,000 Ru. (fifty-three lakhs only) is paid by the buyer to the sellers 1 to 5 by the confirming party in three equal installments to be paid at the end of the 9th, 12th and 15th months from that date. … as a party willing to confirm. It is apparent from the decision of assessment that the expert sold, with other co-owners, land for 1.4 Crores. The auditor sought what was necessary…/- without the status of the sale. It turns out that he had only presented himself as a confirmation party to obtain the amount in question of Article 12.00,000/- This allowed the Assessing Officer to conclude that… a mere confirmation party. In addition, the expert did not demonstrate the accuracy of the sales contract of 07.08.2002 as a convincing medium. So we don`t find any reason,… 5.
The agreement stated that the confirming party, namely. M/s. Emerald Promoters Pvt. Ltd., has the right to market existing incomplete constructions once completed, with 16.04% of the undivided shares of List A in third parties, for such considerations that the confirming party would fix on its own invoice. and sellers 1 to 5 had agreed to replenish a bit of their respective stocks on Plan A surfaces and also declared themselves ready to execute all documents, etc. if requested by the buyer. In point 6 of the agreement, it is stated that sellers 1 to 5 and the confirming party would provide the purchaser with freedom of possession within one week of receiving the No Objection Certificate from the Income Tax Service. If the parties agree on a gas purchase and sale transaction for a given delivery period, the confirming party can register the transaction confirmation agreement and forward that transaction confirmation to the other party by fax, EDI or by amicable electronic means until the end of the business day following the date of the agreement. 3) You were therefore advised to enter into a tripartite contract with A and B, A registering property in your name and B being the confirming part 8. In a review of the documents submitted to the Tribunal, it found that the Assesees must be judged with respect to the consideration received with respect to 16.04% of the undivided share of the land in which M/s.
Emerald Promoter Pvt. Ltd. built a construction. It also indicated that in November 1991 there had been a transfer between the notators and M/s. Emerald Promoter Pvt. Ltd. with respect to the same country. With regard to the agreement of 23.10.1991, the Tribunal indicated that the notator had agreed to sell the entire land to M/s with 46 cents of land. Emerald Promoter Pvt. Ltd. and, therefore, ownership of that country was given to M/s. Emerald Promoter Pvt.
Ltd. Subsequently, M/s. Emerald Promoter Ltd. sought to free up the remaining 83.96% of the unseated share in favour of M/s. Sudsun Housing Development (I) Ltd. which is very clear from the agreement of 27.10.1994. Therefore, it is not justified to say that the total consideration must be assessed by the notator for 83.96% of the undivided share. Referring to Section 2 (47) (v) of the Income Tax Act, the Tribunal found that, when the physical detention was handed over to Mr/s. Emerald Promoter Pvt. Ltd.
in 1991, as a partial benefit of the agreement after receiving all of the consideration on the sales, no amount from the sale benefit could be assessed by the evaluators. … Cinema, Limited, as a party confirming the lease, and the defendants who did not comply with this requirement, were withdrawn from a motion by the applicants for contempt of court. Mr Justice… The accused themselves, to whom they were invited, and the other was that they agreed to join Paradise Cinema, Limited, as a party confirming the lease. In our opinion, the second part is… in violation of their own obligation.