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ANIL KSHETARPAL
Bhardwaj and Company (M/s) – Appellant
Versus
Sarvesh Kumar Jindal – Respondent
Headnote: Read headnote
Judgment
Mr. Anil Kshetarpal, J.
The prayer for impounding the agreement to sell on the ground that it is not sufficiently stamped, has been kept open by the trial court. The correctness of the aforesaid order is challenged by the petitioner/defendant by filing the revision petition.
2. In order to comprehend the issue involved in the present case, the relevant facts, in brief, are required to be noticed. In 2001, the State of Punjab amended the Indian Stamp Act, 1899. By the said amendment, the agreement to sell evidencing the delivery of possession was included in the definition of the conveyance deed and by amending entry no.23 of the Schedule, the stamp duty was made payable thereon. In substance, the liability to pay the stamp duty was advanced from the date of registration of the sale deed to the date of execution of the agreement to sell. The liability to pay the stamp duty remains the same. Whatever stamp duty is paid at the time of the agreement to sell the same is liable to be adjusted towards the final stamp duty, that is payable at the time of registration. It is in
The court ruled that the liability to pay stamp duty on an agreement to sell is debatable, and impounding the agreement is inappropriate when possession is disputed.
Agreements evidencing delivery of possession are liable for stamp duty as conveyances under the Stamp Act.
An agreement of sale not containing a delivery of possession recital is exempt from stamp duty as per the Indian Stamp Act.
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