C.S.P. SINGH, J. :- The Board of Revenue as the Chief Revenue Controlling Authority has referred to the Court under Section 57 of the Stamp Act the following questions for answers :-

"(a) Whether the document under reference is a conveyance for Rs. 55,000/-and is chargeable with a duty of Rs. 2,475 under Article 23, Schedule I-B of the U. P. Stamp Act, 1962, and is also liable to an additional duty of Rs. 4.50 under Art. 5(c) read with Section 5 of the Stamp Act in respect of the two distinct agreements regarding the sale of Motor Cycle and Jeep car and exchange of certain property.

(b) Whether the document is a deed of dissolution of partnership and is sufficiently stamped with a duty of Rs. 22.50 under Article 48-B, Schedule I-B, ibid.

(c) Whether the document is a release of the value of Rs. 55,000 and is liable to a duty of Rs. 50 under Article 55, Schedule I-B, ibid.

(d) Whether the document is merely an agreement between the parties and is chargeable with a duty of Rs. 2.25 under Article 5(c), Schedule I-B, ibid.

(e) If the document is not covered by any of the alternatives aforesaid, what stamp duty is payable in respect thereof under the U. P. Stamp Act, 1962."

2. The answers to these questions depend upon the nature of the document executed by Govind Dass Gupta, Manohar Dass Gupta and Gopal Dass Gupta on the 29th October, 1967. The facts necessary for the decision of the questions referred may be shortly stated. Manohar Dass Gupta, Gopal Dass Gupta and Govind Dass Gupta were carrying on a partnership business known as "M/s. Ram Manohardas" Govind Dass Gupta retired from the partnership and executed a deed of retirement on the 29th October, 1967. Apart from the other clauses of the deed, with which we are not concerned in the present reference, Govind Dass Gupta, the retiring partner was to get an amount of Rs. 55,000 from the firm in full and final satisfaction of all his dues and claims in the business and capital of the firm and its assets. There was also a stipulation that a godown belonging to Sri Govind Dass Gupta will be exchanged with a piece of land belonging to Manohar Dass Gupta, the continuing partner, and further that Sri Govind Dass Gupta, the retiring partner, will transfer his Motor Cycle and Jeep car to the firm for a consideration of Rs. 5,000. This document although styled as a deed of retirement was stamped as a dissolution of partnership and a duty of Rs. 22.50 was paid by the executants. On the document being presented before the Collector, Allahabad, for adjudication under Section 31 of the Stamp Act, the matter was referred to the Board for orders under Section 56(2) of the Act. The Board took the view that the deed in question was a conveyance executed by the retiring partner in favour of the two remaining partners for a consideration of Rs. 55,000 and not merely a deed of retirement or relinquishment and as such was chargeable as a conveyance under Article 23 of Schedule I-B of the Stamp Act and further that the agreements relating to the transfer of the Jeep and Motor Cycle and exchange of godown of the retiring partner Govind Dass with the land of the remaining partner Manohar Dass Gupta were chargeable as an exchange transfer deeds and were liable to additional duty. At the instance -of the executants, the Board has referred the questions noted above to this Court.

3. Learned counsel for the applicant has not contested the view of the Board in respect of the agreements relating to the sale of the Motor cycle and the Jeep car and the exchange of the immovable properties between the retiring partner Govind Dass Gupta and the remaining partner Manohar Dass Gupta and such, in the present reference, it is not necessary to enter into the second part of the first question which relates to the two agreements relating to the sale of the movable properties and the exchange of immovable properties. In order to decide the controversy it will be useful to reproduce some clauses of the deed of the 29th