No Transfer U/s 2(47) if JDA is not registered: SC

CIT Vs Balbir Singh Maini (Supreme Court of India): On and after the commencement of the Registration and Other Related Laws (Amendment) Act, 2001, if an agreement, like the JDA in the present case, is not registered, then it shall have no effect in law for the purposes of Section 53A. In short, there is no agreement in the eyes of law which can be enforced under Section 53A of the Transfer of Property Act. This being the case, we are of the view that the High Court was right in stating that in order to qualify as a “transfer” of a capital asset under Section 2(47)(v) of the Act, there mus...