Registration of property

Hi Gaurav, Can you please explain further.

Which party is cancelling the sale agreement. (Buyer or seller)

Which party is challenging the property valuation (Buyer or Stamp duty authority)

Third party

What is the role of third party ? Is he property dealer ?

I m buyer.... Third party ne challenge kiya ke hamari shop ki registration ki value, jo Hamare se next shop hai uski registration value se kam hai... he file a case to cancel the registration of shops... ND he won the case... and registration is cancelled now... what should be done next??? can u advice me??

The money paid to the seller. so far the entry is :-journal entry is:-Investment A/C Dr ; To party A/C.Then comes Payment entry. That is:-party A/C Dr  To Bank A/C.This is the true face of the transaction. Until the dispute is settled all related A/Cs stand there.

On cancellation,we can file suit on that party. cash book transaction is the evidence.