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ANIL KSHETARPAL
Dhir & Dhir Asset Reconstruction & Securitization Company Ltd. – Appellant
Versus
Converntry Coil-O-Matic Ltd. – Respondent
| Table of Content |
|---|
| 1. petition for writ of certiorari to annul stamp duty order. (Para 1 , 3) |
| 2. court's procedural observations and final rulings. (Para 4 , 25) |
| 3. contentions on stamp duty calculation based on assignment deed. (Para 5 , 6) |
| 4. definition of conveyance and its implications for assignments. (Para 7 , 8 , 9 , 10) |
| 5. interpretation of statutory provisions regarding stamp duty. (Para 12 , 14 , 16 , 20) |
| 6. evaluation of alternative remedies and cited case laws. (Para 19 , 21 , 23 , 24) |
JUDGMENT
Mr. Anil Kshetarpal, J.
While requesting to issue a writ in the nature of certiorari, the petitioner inter-alia prays for setting aside the order dated 10.03.2016 passed by the Commissioner, Gurugram, in the exercise of appellate jurisdiction under the Indian STAMP ACT , 1899 (hereinafter referred to as 'the 1899 Act').
2. After having heard the learned counsels representing the parties at length, the following question requires adjudication:-
The main legal point established in the judgment is that the stamp duty payable for the assignment of non-performing assets should be based on the consideration paid by the petitioner, and not on the....
In Court-ordered sales, stamp duty applies only to the sale consideration, not to market value, as established by the Transfer of Property Act.
The Assignment Deed was deemed valid despite the Appellant's objections, confirming the debt and default necessary for admitting the Financial Creditor's Section 7 application.
Once a single instrument has been charged under a correct charging provision of Statute, Revenue cannot split instrument into two, because of reduction in stamp duty facilitated by a notification of ....
The assignment of debt under the SARFAESI Act is valid even if the document is inadequately stamped, as registered documents are presumed adequately stamped.
Registered Assignment Agreements may be relied upon in court proceedings even if inadequately stamped, reinforcing the rights of the assignee under SARFAESI Act provisions.
The Collector must follow due process and provide notice before determining stamp duty; reliance on ex-parte inspections without evidence contravenes procedural laws.
Stamp duty for Sale Certificates must be calculated based on the purchase price stated in the certificate, not the market value, with total permissible duties capped at specified rates.
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