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SANDEEP V. MARNE
S. D. Corporation Pvt. Ltd. – Appellant
Versus
State of Maharashtra – Respondent
JUDGMENT :
(Sandeep V. Marne, J.)
1. Rule- Rule made returnable forthwith. With the consent of the learned counsel appearing for rival parties, petition is taken up for hearing and final disposal.
2. Petitioner has challenged Order dated 5 January 2022 passed by the Collector of Stamps, Borivali demanding stamp duty of Rs.46,00,30,600/- and penalty of Rs.153,65,02,204/- from Petitioner under Article 5(g-a) of the Maharashtra Stamp Act, 1958 (Stamp Act). The demand towards stamp duty and penalty is made on General Power of Attorney (POA)dated 21 February 2007 executed in favour of Petitioner.
3. It appears that Samata Nagar Co-operative Housing Society Union Ltd. (Society) has granted development rights in Petitioner's favour for carrying out development of its buildings. A Development Agreement dated 19 February 2007 was executed by the Society in Petitioner's favour, on which stamp duty of Rs.100/- was initially paid. The said Development Agreement was subsequently adjudicated and stamp duty of Rs. 95,69,169/- under Article 5(g-a) of the Stamp Act, in addition penalty of Rs.82,29,500/- was demanded. There is no dispute to the position that Petitioner paid both the amount of stamp dut
The Collector of Stamps must assess whether the properties under the Development Agreement and General Power of Attorney are identical to determine the applicable stamp duty under the Maharashtra Sta....
The government notification creating an indefeasible right for reduced stamp duty on conveyances influenced the court's decision in favor of the petitioner.
A development agreement requires registration and proper documentation; failure to disclose accurate property valuation leads to the assessment of additional stamp duty under the STAMP ACT.
Point of law: Supreme Court held that an agreement to sell is a conveyance within the meaning of Act and if such a document is not duly stamped it is inadmissible in evidence.
The court clarified that Section 47 of the Maharashtra Stamp Act governs refund claims for spoiled stamps, while Section 48 only sets the limitation period, necessitating an inquiry into the claim.
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