9911796707
TMI Blog1991 (11) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... nd that each one is enjoying the said share but they are all joining together to execute the sale in favour of the purchaser. The registering officer called upon the petitioners to produce an income-tax clearance certificate as the value of the property conveyed is more than rupees 2 lakhs. The present writ petition is for a writ of certiorarified mandamus to quash the above proceedings of the registering officer and for a direction to him to accept the document and grant registration of the same. The learned Additional Government Pleader appearing for the respondent would submit that, under section 230A of the Income-tax Act, a tax clearance certificate is necessary before the document of conveyance with respect to immovable property the v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heirs inherited a quantified share which is not liable for fluctuation and in that quantified share, the heir gets an absolute right and no other sharer has any interest, right or title to the share so inherited by one sharer. He would rely on the decision of this court in K. V. Kishore v. Appropriate Authority [1991] 189 ITR 264, wherein it was held as follows (headnote) : "The original allottee of the land died in the year 1962. He being a Hindu governed by the Hindu Succession Act, on his death, his wife and children acquired a vested right to the definite quantified shares in the property left behind by him. As owners of their respective shares, they were competent to enter into a family arrangement which they did on April 8, 1987, u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 230A of the Incometax Act is required. Merely because a plurality of shareholders happen to join together and execute one single document, it would not mean conveyance by a person of a property worth more than rupees two lakhs when the combined value of the shares so transferred happens to be more than rupees two lakhs. In substance, what is transferred by the sharer is his individual share. For the purpose of section 230A of the Income-tax Act, it is the value of the property of a person who makes a transfer which has to be considered. It is not in dispute that each one of the sharers, viz., wife and children, took an equal share. The value of their respective property, inherited by each one of the heirs, is less than rupees two lakhs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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