K. B. ASTHANA, GOPINATH, M. P. SAXENA
Banney Khan – Appellant
Versus
The Chief Inspector of Stamp, U. P. – Respondent
SAXENA, J.:- This is a reference under Section 57 of the Indian Stamp Act, 1899, by the Chief Controlling Revenue
Authority, viz., the Board of Revenue, Uttar Pradesh.
2. Admittedly in an auction Banney Khan applicant took the contract for collection of toll from the premises known as 'New Sabzimandi' belonging to the Municipal Board, Ujhani, District Budaun, for the period 1st of April, 1967, to March 1968. In pursuance of this auction a document (Annexure I to the Reference) describing the Municipal Board, Ujhani, as "the lessor" and the applicant as "the lessee" was executed by both the parties on 31-3-1967. Stamp duty of Rs. 2.50 was paid on this document. The essential terms of the agreement were that during the said period of one year the lessee will remain in possession of the subject-matter of lease and will realise toll on all the goods at the rates provided by the lessor. The lessee will pay to the lessor for such permission a sum of Rs. 23,700/- out of which Rs. 10,000/- will be paid by 1-4-1967 and the balance will be paid in four instalments of Rs. 3,425/- per month by the end of each succeeding month and, as such, the whole amount will be paid by the end of Aug
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