ORDER :

1. Though the appeal is listed for admission, by consent of learned advocates, it is taken up for final disposal.

2. We have heard arguments of Mr. K.M. Antani, learned Assistant Government Pleader appearing for the appellant and Ms. Kalpana J. Brahmbhatt, learned counsel appearing for the respondents.

3. In this appeal, State lays a challenge to the order dated 16.10.2019 passed in Special Civil Application No. 13270 of 2018. Petitioner - a company known and called Antifriction Bearings Corporation Limited, registered under the Companies Act, 1956 with the jurisdictional Registrar of Companies was allotted an industrial plot by Gujarat Industrial Development Corporation (for short ‘GIDC’) bearing plot Nos. 1-B and 1-C admeasuring 57804 Sq. Mtrs. by executing a lease deed on 3.4.1980. Name of the company came to be changed to ABC Bearings Limited by virtue of resolution dated 17.6.2022 passed by the Board of Directors as required under Section 21 of the Companies Act, 1956. The constitution of the company was not challenged except change of name. Hence, appropriate application came to be filed with the Registrar of Companies, resulting in fresh certificate of incorporation consequent to the change of name came to be issued in favour of petitioner by the Deputy Registrar of Companies, Maharashtra, Mumbai as contemplated under Section 23(1) of the Companies Act, 1956.

4. In the aforesaid background, an application came to be submitted by petitioner to GIDC for entering the name of the allottee as ABC Bearings Limited in substitution to the name of the company The Antifriction Bearings Corporation Limited. On 15.3.2018, GIDC executed a deed of rectification, under which it was specifically stated that no consideration has flown between the parties, namely GIDC and ABC Bearings Limited. On an office order being passed by GIDC on 11.4.2018, aforesaid plots stood transferred to the name of petitioner company. The deed of rectification dated 15.3.2018 came to be tendered before the jurisdictional Sub-Registrar, i.e. Sub-Registrar, Bharuch for registration. Said document came to be impounded under Section 33 of The Gujarat Stamp Act, 1958 (for short ‘Stamp Act’) and came to be forwarded to Stamp Duty Valuation Office, Bharuch. On 27.3.2018, a show cause notice came to be issued to petitioner by Deputy Collector, Stamp Duty Valuation Department, Bharuch under Section 39(1)(b) of the Stamp Act intimating the petitioner that said deed of rectification is to be construed as a deed of transferring the ownership and as such it would partake the character and would fall within the ambit of the expression ‘conveyance’ as defined under Section 2(g) of Stamp Act and attracted duty as prescribed under Article 20 of Stamp Act and called upon the petitioner to show cause within 15 days as to why deficit stamp duty should not be recovered from them. Said notice was duly replied to by the petitioner, which was not accepted by respondent authorities, but resulted in second show cause notice being issued on 30.5.2018 and reply given to said show cause notice also did not yield any result in favour of petitioner. Subsequently on 11.6.2018, an order came to be passed by the Deputy Collector, Stamp Duty Valuation Department, Bharuch determining the market value of the property at Rs. 51,76,34,820/- and consequential stamp duty of Rs. 2,53,64,106/- as prescribed under Article 20(a) of the Stamp Act was demanded from petitioner after giving deduction of Rs. 250/- which was already paid on the instrument. A penalty amount of Rs. 1,00,000/- under Section 39(1)(b) of the Stamp Act was also levied and thus a total amount of Rs. 2,54,63,856/- was ordered to be paid by the petitioner.

5. Being aggrieved by the said order, a revision under Section 53 of the Stamp Act, 1958 came to be filed by petitioner before Chief Controlling Revenue Officer, State of Gujarat, Gandhinagar. Said petition was accompanied by an application seeking exemption from payment of 25%