Legal, Financial (taxation) and Current topics-Neeraja Blog

  Q. What does not constitute transfer? OR Transfer not amounting to Transfer of Property As the transfer of property’ means ‘conveying of property’, i.e., creation of new title or interest in the favour of the transferee, if new title or interest has not created in favour of transferee , the property cannot be said to be conveyed, thus no transfer of property. 1.      Partition - As nothing new is obtained by a co-sharer on partition, it is not a transfer of property. His specific share, which vested in him earlier, is simply separated. 2.      charge – The only right created in a charge is a right to payment out of the property subjected to charge, thus it is not a transfer. [ Gobind Chandra v. Dwarka Nath,  (1908) 35 Cal 837] 3.      Relinquishmen t:—It is an extinction of a right and therefore, there is nothing left to transfer. Thus a relinquishment by a reversioner of his reversionary interest does not ...

  Q. What is transfer? Or Essentials of  a valid transfer? Meaning of transfer (Whether movable or immovable) - Section 5 According to the Transfer of Property Act,                                                                                        transfer of property means when a living person conveys the property, in present or in future, to one or more persons, or himself and one or more other persons and to transfer property is to perform such act.[ section -5 ]   Legal rules for a valid transfer are-  Transfer must be between two or more living persons [section 5] Living person” includes a company or association or body of individuals whether incorporated or not. A juristic person was defined in the case   Shiroman...

  Q. State the difference between movable and immovable property  MOVABLE PROPERTY IMMOVABLE PROPERTY DEFINITION Movable property is not defined under Transfer of Property Act. • As per General Clauses Act, 1897 Movable property means “property of every description except immovable property”. As per Section 2(9) of Registration Act it include property of every description excluding immovable property but including standing timber, growing crops and grass.    Example of movable property- Machinery fixed on land temporary. Intellectual property right.  Standing timber and growing grass Right to recover maintenance allowance.   Royalty  Copyright Not defined under Transfer of Property Act. As per Section 3, immovable property does not include standing timber, growing crop and grass. Standing timbers are tree fit for use for building or repairing houses.  This ...

The Transfer of Property Act [TPA] or TOPA came into existence in 1882. Before that, the transfer of immovable property was governed by principles of English law and equity. The preamble of Act sets out the objectives of the legislation. Scope of this Act is limited. It applies only to transfer by the act of parties and not by operation of law. Also this Act deals with a transfer of property inter vivos, i.e., a transfer between living persons. It contains transfer of both movable and immovable property but a major portion of the enactment is applicable to the transfers of immovable properties only. The Act is not exhaustive. Q State the essential elements of immovable properties? The word “property” has not been defined in the Act, but it has a very wide meaning and includes properties of all descriptions. It includes movable properties such as case, books, etc., and includes immovable properties also such as lands or houses. It also includes intangible properties such as ownership, ...

When the year 2020 began, no man on this earth could foretell that terms like ‘pandemic’, ‘lockdown’, ‘contagious’ would become the new norms. Likewise, none could foresee that a rerun of Ramayan and Mahabharata, by the good old Doordarshan, would smash viewership records worldwide. Ramayan, immortal story of duty and devotion, garnered maximum viewership during the pandemic and with that often parallels were drawn between warriors of Ramayan and Covid warriors.  The most important comparison was between Hanuman and the doctors and nurses of our country, both epitomising self-less service beyond the call of duty. Yes Hanuman was pivotal to Ramayan but there were many gracious albeit hidden characters in Ramayana who despite their remarkable sacrifice were relegated and ignored. One such character is Urmila, referred to by Rabindranath Tagore as one of the forgotten heroines (Upekshita) of our past. Though her sacrifice was incomparable, only a few lines are attributed to her in the...

  Q. What do you mean by Arbitrator? Q. What are the powers of arbitrator in the Arbitration  Act 1996. Can he be removed by any party or court? Q. What are the Procedures to challenge the appointment  of arbitrator? The term “arbitrator” is not defined in the Arbitration and Conciliation Act. But “arbitrator” is a  person who is appointed to determine differences and disputes between two or more parties by  their mutual consent.   It is not enough that the parties appoint an arbitrator. The person who is so appointed must also  give his consent to act as an arbitrator. His appointment is not complete till he has accepted the  reference.   He is an extra-judicial tribunal whose decision is binding on the parties.  The arbitrator must be absolutely disinterested and impartial. Any interest of the arbitrator  either in one of the parties or in the subject-matter of reference unknown to either of the parties  or all the ...