( 1 ) THE Chief Controlling Revenue authority, Gujarat State has referred the following two questions under Section 56 of the Bombay Stamp Act, 1958 (the Act) :

" (1) Whether the said instrument Titled as Deed of Simple Mortgage executed on dt. 7. 12. 1985 and presented for registration with Sub-Registrar, Manavdar on dt. 7. 12. 85 bearing Serial No. 317 is liable to stamp duty under Article 36 of schedule-I to the Bombay Stamp Act, 1958, read with Govt. Notification dt. 2. 7. 1970. (ANNEXURE - e )OR (2) Whether the said instrument fulls within the scope full remission granted inter cilia to the instruments of Mortgage under Govt. R. D. Notification No. GHM-79/108/- M-STP-1479/2288-H dt. 23. 3. 1979 (Annexure- b )".

( 2 ) THE applicant, an individual, had applied to Bank of India, Dungarpur branch, Taluka District Junagadh for a loan of Rs. 9,80,000/- for the purchase of Air compressors, Drilling Rods and other accessories under Agricultural Finance scheme. Upon being granted the said financial facility, the parties had entered into an agreement through an instrument termed as "simple Mortgage Deed". The said instrument was presented for registration with Sub-Regist