Back
MAHESH CHANDRA TRIPATHI, SAUMITRA DAYAL SINGH, SIDDHARTH
Housing Development Finance Corporation Ltd. – Appellant
Versus
State of U. P. – Respondent
JUDGMENT :
Saumitra Dayal Singh, J.
1. Present reference (to a full bench) has arisen on a doubt expressed by a learned single judge, to the correctness of the ratio contained in a division bench decision of the Court in HDFC Ltd. v. Assistant Commissioner Stamps, Ghaziabad, 2015 (9) ADJ 331 (DB). In that, the division bench reasoned as below:
Stamp duty under the Indian Stamp Act applies only to written instruments evidencing agreements; oral agreements do not create a taxable event.
The mortgage deed securing multiple loan agreements constitutes distinct transactions requiring separate stamp duty assessments under Section 5 of the Stamp Act.
Suit for Specific Performance – Liability to pay stamp duty – Stamp duty is on instrument and not on transaction – It is immaterial, whether possession of property has been handed over at the time of....
Determination of stamp duty – In matters of stamp duty, decisive factor is not nomenclature assigned to instrument, but substance of rights and obligations it embodies – Court is duty-bound to ascert....
The Agreement constituted a mortgage by deposit of title deeds under Section 58(f) of the Transfer of Property Act, and the Division Bench erred in concluding otherwise.
Stamp duty is on instrument and not on transaction – For several documents to form part of a single transaction, there must be a transaction in furtherance of which several other documents are execut....
The main legal point established in the judgment is the interpretation and application of the requisites for a valid mortgage by deposit of title deeds under Section 58(f) of the Transfer of Property....
(1) For every fact which is pleaded, there has to be evidence, either oral or documentary, to substantiate the same.(2) Justice on merits is to be preferred as against what scuttles a decision on mer....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
