[1] In this application, the question for the opinion of this Honourable Court is whether the Memorandum of Transfer ("MOT") dated 31 December 2013 is liable to ad valorem stamp duty under Item 32, Schedule 1 of the Stamp Act 1949 (" SA ") or exempted from stamp duty under s 15(1) of the .

Facts

[2] The facts of the case are as follows:

a) on 22 November 2013, a Sale of Business Agreement ("SBA") was executed between the plaintiff and AMSB. Pursuant to the Agreement, the plaintiff has agreed to acquire the business of AMSB ("the Undertaking") which includes, all its assets and liabilities consisting of cash, receivables, liabilities, other assets and a plot of land bearing the title Geran No 43695, Lot 167 ("the Land");

b) the defendant had imposed fixed duty of RM10.00 under item 4 of the First Schedule of the SA 1949 on the Sale of Business Agreement on 29 November 2013;

c) on 31 December 2013, a MOT was executed between the plaintiff and AMSB via Form 14A to effe