Applicablity of section 50C

[murali Krishnamurthy]

My client was allotted a plot of land by a co-operative society in 1993, which was not registered in his name. This plot was sold in 1995, based on the said allotment, and no return of income was filed reflecting this transaction.

The present "owner" was not accorded municipal sanction as he was informed that there was "defective title" passed onto him, as the plot was not registered in the original owner's name by the society. This defect was rectified and the plot was registered in the "original owner's" name after payment of the required charges in 2010.

The following issues arise which require clarification -

1. Which is the year to be taken for ownership purposes?
2. What is effect of payment of the betterment charges, etc in 2010?
3. Can the rectification of the defect be traced to the original sale transaction?
4. Will the provision of section 50C apply in the instant case since the property has to re-registered?
5. Can there be two registrations for the same transaction concerning the same property.?

An early reply will be greatly appreciated.

Ch.G.Murali

[camanoj2104]

U CAN TAKE HELP FROM THE CASE NEVILLE DE NORANHA 22(II) ITCL 162(kOL-tRIB) : 26 SOT 35 AND M. SIVA PARVATHI 38(II) ITCL 531