Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | 1952)-Sale deed- Registration of-Valuation for assessment of stamp duty-HELD: stamp duty on sale has to be assessed on market value of property at the time of registration of sale and not when parties entered into an agreement to sell nor when suit for specific performance of contract D is filed.Stamp Act 1899- ss. 2(12) 3 17 and s.47A (as inserted by RajasthanAct JO of 1982 in Rajasthrm Stamp Law (Adaptation) Act |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Stamp Act, 1899:ss. 2(12), 3, 17, and s.47A (as inserted by Rajasthan Act 10 of 1982 in Rajasthan Stamp Law (Adaptation) Act, 1952 - Sale deed - Registration of - Valuation for assessment of stamp duty - HELD: stamp duty on sale has to be assessed on market value of property at the time of registration of sale and not when parties entered into an agreement to sell nor when suit for specific performance of contract is filed.Interpretation of Statutes:Provisions of Stamp Act - Interpretation of - HELD: Stamp Act is in nature of a taxing statute and has to be construed strictly.Deeds and documents - Difference between agreement to sell and sale - Explained.In execution of decrees passed in two suits for specific performance of contract arising out of agreements to sell entered into on 20.10.1983, the court executed the sale deeds and sent the same on 17.3.1995 for registration before the Sub-Registrar, who, exercising his powers u/s. 47-A (1) as inserted by Rajasthan Act 10 of 1982 in Rajasthan Stamp Law (Adaptation) Act, 1952 sent the sale deeds to the Collector for determining market value of the properties and to assess the charge of stamp duty. The Collector assessed the value of the properties and raised deficient stamp duty and deficient registration fees and also levied the penalty. The order of the Collector was challenged in a writ petition before the High Court. The single Judge held that the relevant date for assessment of the market value would be the date on which the suit for specific performance of agreement to sell was filed. The Division Bench of the High Court having affirmed the view of the single Judge, the State Government filed the instant appeal.The question for consideration before the Court was: Whether valuation should be assessed on the market rate prevailing at the time of registration of the sale deed or when the parties entered into the agreement to sell. |
Judge | Hon'ble Mr. Justice A.K. Mathur |
Neutral Citation | 2007 INSC 1157 |
Petitioner | State Of Rajasthan And Ors. |
Respondent | M/s Khandaka Jain Jewellers |
SCR | [2007] 12 S.C.R. 105 |
Judgement Date | 2007-11-16 |
Case Number | 5273 |
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