ITAT Rules: Registered Sale Deed is Sacred
CHENNAI: A registered sale deed carries a strong presumption of authenticity and validity. The Income Tax Appellate Tribunal (ITAT) in Chennai highlighted that registration is a significant act that confers a high level of trust to the document. The tribunal, consisting of judicial member Aby T Varkey and accountant member S R Raghunatha, made this remark while overturning an order from an assessing officer who dismissed a sale deed as proof for the purchase of a flat, which also impacted the long-term capital gains exemption from the sale of a property and subsequent reinvestment in another residential property. This case…