The main legal point established in the judgment is the interpretation of the nature of the instrument as a release deed or a conveyance under the Mysore Stamp Act, 1957, and the application of relevant provisions and precedents to determine its chargeability to stamp duty.

Chandrashekar, J.

( 1 ) IN the Writ Petition out of which this reference to the Full Bench has arisen, the petitioner has challenged the order of the Revenue Authorities directing him to pay additional stamp duty and penalty on an instrument executed in his favour. The Division Bench before which the Writ petition camp up for hearing has referred to the Full Bench, the following question:-"whether the deed in question is a release deed falling within Article 44 of the Mysore Stamp act, 1957, or whether it is a conveyance falling under Article 19 of that Act. "

( 2 ) THE necessary implication of this question, I think is whether the instrument is chargeable to stamp duty under Article 44 of the Mysore Stamp Act, 1957, or under Article 19 of that Act.

( 3 ) THE instrument in question is styled as a deed of release and was executed on 12-3-1962 the instrument as the first party and M. A. Venkatachalapthy, referred to as the second party who is the petitioner in this Writ Petition.

( 4 ) THE preamble portion of the instrument recites that Donty Bheemaiah, the father of the first party and the second party constituted a partnership firm with equal shares under a registered deed of partnership dated 3-11-1956 and were carrying on business. Both parties were kartas of their respective families. Donthy Bheemiah died on 24-11-1961. After his death the first party who became the karta of the family, became the partner in place of Donthy Bheemiah. It is further recited that the accounts of the said business were taken and the assets and liabilities and profits and loss of the firm were ascertained on 13-4-1962, the correctness of which was accepted by both parties. By mutual agreement the first party retired from business from 16-4-1962.

( 5 ) THE operative portion of the instrument states that the first party shall have nothing to do with the business carried on by the partnership that the entire business is left solely to the second party with all its assets and liabilities and that the business shall henceforth be carried by the second party in his own name and in his own building for his own profit and at his own cost and risk.

( 6 ) BUT para 5 of the instrument states that the assets of the partnership include a piece of land which was purchased in the name of Donthy Venktataswamiah for a debt due to the partnership and that this land shall continue to be owned as joint property of both parties each being entitled to half share until the property is partitioned separately.

( 7 ) PARA 6 of the instrument states that in consideration of a sum of Rs. 30,036-24, being the capital and profits of the business due to the first party he (the first party) releases to the second party all the share and interest of the first party as the karta of the joint family to the partnership firm, the business assets, bank balance, book debts, decree debts and other debts and claims of the partnership outstanding against other person, except the piece of land referred to in para 5 and "to hold the same to the second party absolutely. "

( 8 ) PARA 8 of the instrument states that the second party shall pay, discharge and fulfill all debts, liabilities and obligations of the partnership business and that at all times thereafter effectually indemnify the first party and his legal representatives from all proceedings, costs, claims and expenses in respect of the partition business.

( 9 ) PARA 7 of the instrument states that if Income-tax or Sales-tax is assessed on the erstwhile partnership business for the period prior to 16-1-1962, both parties should bear the tax liability equally and if any refund of tax is received, it should be shared equally between them.

( 10 ) THE net effect of these clauses in the instrument is that in consideration of a certain sum of money, the first party gives up in favour of the second party his share in and the second party becomes the full owner of all the assets and liabilities of the dissolved firm except the follo

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