JUDGMENT :

1. Rule. Rule is made returnable forthwith. With the consent of the parties, petition is taken up for hearing.

2. By this petition, Petitioner has challenged the Notice dated 3 September 2015 issued by Sub-Registrar and Order dated 31 May 2021 and Demand Notice dated 13 October 2021 issued by the Collector of Stamps, Andheri demanding deficit stamp duty of Rs.22,56,010/- and penalty of Rs.87,08,200/-.

3. Briefly stated, facts of the case are that Petitioner is a Developer and entered into Development Agreement with ‘D.N. Nagar Shree Ashtavinayak Co-operative Housing Society Limited’ on 6 September 2005, under which, he agreed to carry out redevelopment of the Society’s building on terms and conditions more particularly described in the Development Agreement. It is Petitioner’s case that the Development Agreement was lodged for registration and Petitioner was called upon to pay stamp duty of Rs.8,42,000/- thereon. Petitioner accordingly paid stamp duty of Rs.8,42,000/- and the Agreement came to be registered in the office of the Sub-Registrar, Andheri- 3 on 7 October 2005. It is Petitioner's case that in pursuance of the Development Agreement, it has completed the redevelo