K. VEERASWAMI, C.J. :- These appeals by the State are filed against a common judgement of Palaniswamy, J., who struck down the Indian Stamp (Madras Amendment) Act, 1967, as unconstitutional. He did so on the view that substitution of "consideration" by "market value" in the Indian Stamp Act has converted stamp duty into a tax on property, and that it also violated Arts. 14 and 19(1)(f) of the Constitution. In our opinion, this view cannot be sustained.

2. We agree with him that stamp duty is a duty on an instrument as defined in the Stamp Act, and that this concept as to the character of the duty is in accordance with the British and Indian Legislative practice, and the scope of Entry 44 in List III of the Seventh Schedule to the Constitution, to wit "stamp duty other than the duties or fees collected by means of judicial stamps, but not including rates of stamp duty." But we cannot agree with him that the substitution made by the Amending Act has altered the character of the duty. While stamp duty is a

charge on the instrument which by itself is the taxable event, the measure of charge may be fixed or ad valorem.

Chargeable event which is an instrument, as defined in the Act