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JAISHREE THAKUR
Chirag & Company Pvt. Limited – Appellant
Versus
Additional Deputy Commissioner-cum-Collector Shaheed Bhagat Singh Nagar, Punjab – Respondent
JAISHREE THAKUR, J.
1. The petitioner by way of instant writ petition seeks quashing of the letter dated 12.4.2021 (Annexure P/5) and order dated 6.10.2021 (Annexure P-15), vide which the petitioner has been directed to pay difference of Rs.51,95,243/- on account of deficiency in stamp duty.
2. The facts as enumerated in the writ petition are that on 14.8.2015, a company known as M/s Montari Industries Ltd. was ordered to be wound up by this High Court in Company Petition No. 83 of 2010 and an Official Liquidator was appointed. Thereafter, for sale of the movable and immovable properties of the said company i.e. land, building, machinery etc., a sale notice was published in the Indian Express dated 28.12.2016 (P-1). The petitioner was a successful bidder as it had given the highest bid for the properties. Thereafter, Official Liquidator filed a Company Application No. 35 of 2017 in the High Court seeking confirmation of sale of movable and immovable properties in favour of the petitioner being the highest bidder, which was allowed, vide order dated 2.6.2017 (P-2). The petitioner received letter dated 9.2.2021 (P-3) from the Official Liquidator to complete the formalities as per the r
Stamp duty is to be paid on the market value of the property, and in the case of public auctions, the price obtainable in a transparent manner should be considered for stamp duty.
Stamp duty – In case of a public auction monitored by court, discretion would not be available to Registering Authority under Section 47A of Indian Stamp Act, 1899.
Court auctions dictate the valid market value of properties, precluding stamp authorities from imposing differing assessments of duty.
Registration Authorities cannot question court-determined property valuations under Section 47-A of the Indian Stamp Act, as it undermines judicial authority.
The valuation of property fixed by a court is final and cannot be challenged by registration authorities under Section 47-A of the Indian Stamp Act, as it undermines judicial authority.
The valuation of property fixed by a court in a judicial proceeding is final and cannot be challenged by registration authorities under Section 47-A of the Indian Stamp Act.
The sale by tender does not constitute a public auction under Article 18 of the Indian Stamp Act, allowing the Collector to reassess market value and stamp duty under Section 47-A.
Sale certificates issued by operation of law under SARFAESI do not fall under Section 47-A of the Indian Stamp Act for undervaluation, distinguishing them from conveyance instruments.
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