AI Structured Summary
Not yet generated for this judgment
Judgment
Actual consideration amount,"Rs.2,78,00,000/-
Stamp Duty Chargeable,"Rs.11,12,000 (4% of Rs.2,78,00,000/-)
Stamp Duty already paid,"Rs.2,42,600/-
Deficient Stamp Duty,"Rs.8,69,400/-
stamp duty can only fall on the vendee i.e., if at all, on Vivek. Reference is also made by the learned counsel to Clause 39 of the conveyance/sale",
deed dated 14.11.2008 to buttress his submission, which is, that qua that agreement the vendee was Asha and, therefore, the liability, if any, with",
regard to deficient stamp duty be that of Asha. Reliance was placed by Mr. Mathur on section 29(c) of Stamp Act, to buttress his submission that only",
Vendee had have to bear the burden of Stamp duty.,
Mr. Gautam Narayan, who appears for the official respondents, on the other hand, says that it is quite clear that the Collector of Stamps has not",
examined the first leg of the transaction. It is, therefore, his submission that this aspect may have to be addressed by the Collector of Stamps. It is,",
however, contended by Mr. Narayan that Asha cannot run away from this fact that insofar as the second leg of the transaction is concerned, deficient",
stamp duty would have to be paid by her, as calculated by the Collector of Stamps.",
10.1 Learned counsel further says that insofar as the appellate authority is concerned, there was, ex-facie, no final determination made by it vis-Ã -vis",
the aspect pertaining penalty. According to Mr. Narayan, the appeal was only at the stage of show cause insofar as this aspect of the matter was",
concerned.,
It is quite clear that the Collector of Stamps did not examine both legs of the transaction, to which I have made a reference hereinabove. It is also",
quite evident that the appellate authority mulcted Fargo with liability without having regard to the fact that it was not the party before the Collector of,
Stamps. Resultantly, Fargo was, as a matter of fact, denied a right of appeal.",
Given these circumstances, I am inclined to set aside the order of the appellate authority with the following directions: -",
i) The parties, that is, Fargo, Vivek and Asha will appear before the Collector of Stamps for a fresh adjudication with regard to the first leg of the",
transaction which involved execution of the Space Buyer’s Agreement dated 16.5.2007;,
ii) Asha, would in the meanwhile pay the deficient stamp duty amounting to Rs.8,69,400/-;",
iii) Insofar as the aspect of imposition of penalty is concerned, that would be re-examined by the Collector of Stamps after giving due opportunity to all",
parties which would include, Fargo, Vivek and Asha",
iv) The direction contained in the order of the Collector of Stamps imposing Rs.50,00,000/- as penalty, ostensibly, on Asha is,thus, set aside.",
As indicated above, a fresh order, if necessary, will be passed in that behalf which will not only determine the person/entity which is to bear the",
liability qua penalty but would also quantify the penalty. It is made clear that the remaining part of the order of Collector of Stamps calling upon Asha,
to pay deficient stamp duty of Rs. 8,69,400/- shall remain intact. For this purpose, the parties will appear before the Collector of Stamps on 4.4.2018 at",
11:00AM. In case, this date is not convenient the Collector of Stamps will fix a fresh date which will be proximate to the date fixed by this Court.",
Collector of Stamps will endeavour to conclude the proceedings, expeditiously, though not later than ten weeks from date given by the Court.",
Furthermore, Asha will be heard only after a sum of Rs.8,69,400/- is deposited by her towards deficient stamp duty.",
Needless to say that any defences that Fargo and Vivek have with regard to first leg of the transaction and penalty are kept open. Likewise,",
Asha's defence with regard to imposition of penalty are kept open.,
Writ Petition is disposed of as above along with pending applications in the aforesaid terms.,