Capital Gain Case

Shubham (Chartered Accountant) (51 Points)

12 July 2021  
Case briefing

In 1975 A entered into unregistered agreement with B for sale of land amounting to Rs. 80000.
At the time B paid 10000 as token money.

In 1982 Both entered into Registered agreement in court and at that time B paid another 20000.

Now at the time of benama A refuse to do benama in tbe name of B and matter went into court.

Court issued show cause notice to A and A didn't appear in the court. Court on the grounds of fact made ex-parte benama in the name of B on the condition that B has to pay balance 50000. B has paid the amount and benama was done.

later A move against the benama in upper court and get stay against lower court order.

later in 2021 Both party mutually decided to resolve matter on the condition that A has to pay 2 Crore as consideration to B and B has to withdraw registered agreement that was entered in 1982.


Note:- The land in the dispute were under lease with other party at the time of entering into agreement.