AIR 1994 BOMBAY 228 ::(1994) 4 Bom CR 35 ::199 Mah LJ 1261

Bombay High Court

Hon'ble Judge(s): B. R. Saraf , J

Bombay Stamp Act (60 of 1958) , Sch.I, Art.15, Art.25 Expln.— Applicability - Agreement of sale of flat - Agreement not stipulating transfer of possession to purchaser before or after execution of agreement without executing conveyance - Agreement cancelled by deed of cancellation before giving possession - Held, deed of cancellation would fall under Art. 15 and not under Art. 25. Transfer of Property Act (4 of 1882) , S.54— In the present case, the flat owner entered into an agreement of sale of the flat. The agreement did not stipulate transfer of possession to the purchaser at any time before or at the time of or after the execution of the agreement of sale without executing a conveyance in respect thereof. No interest in immovable property was intended to be transferred. The purchaser was not given possession of the flat at any time. The agreement of sale was subsequently cancelled by a deed of cancellation before any such possession could be given. In the circumstances, the deed of cancellation which would not amount to reconveyance of the property, can fall under Art. 15 and not under Art. 25.(Para 6 7) It is well settled that a contract for sale of immovable property does not, of itself, create any interest in or charge on such property. It is merely a document creating a right to obta....