AIR 1997 PUNJAB AND HARYANA 141 ::(1997) 1 CivilCourtC 216 ::(1997) 1 RecCivR 127 ::(1997) 1 CurLJ(CCR) 675

Punjab And Haryana High Court

Hon'ble Judge(s): R. L. Anand , J

Stamp Act (2 of 1899) , S.3A, S.38— Promissory note _ Requires Refugee Relief Additional stamp - S. 3B (Punj) does not exempt it from such requirement. 1978 Rev LR 131 and R.S.A. No. 1565 of 1978, D/- 3-9-1990 (Punj and Har), Overruled. Constitution of India , Art.254, Sch.VII List I, Sch.VII List II— Promissory note is required to be stamped with "Refugee Relief" stamp under S. 3-A of the Act. Section 38 (Punj) does not exempt promissory note from such requirement under S. 3-A. By virtue of Entry 91 of List 1, the Parliament has been vested with the exclusive power to enact law regarding the rates of stamp duty in respect of promissory notes. Therefore, S. 3-B enacted by the Punjab Amendment Act, 1971 will have to be read in such a manner that it does not tread in the field occupied by List 1. In fact a bare reading of S. 3-B makes it clear that the State Legislature was not enacting law on the subject of promissory note which is covered by Item No. 49 of the Schedule attached to the Stamp Act. The use of expression "other than the instruments mentioned in S. 13, 14, 27, 37, 47, 49, 52, 53 or 62(a) clearly shows that Punjab law does not deal with Stamp Duty on promissory notes. There is nothing in S. 3-B to indicate that it grants exemption to any particular instrument from the payment of Stamp Duty. Rather what S. 3-B does is to impose a dut....