AIR 2014 (NOC) 539 (DEL.) ::2014 (2) ADR 610

Delhi High Court

Hon'ble Judge(s): V. K. Jain , J

(A) Stamp Act (2 of1899) Sch. 1 , Art. 55 — Document whether gift or relinquishment deed — Determination of — Property belonging to original owner was mulated in favour of 3 co-owners — One of co-owners relinquished his share in property in favour of another co-owner — Document in question executed in this regard would qualify as relinquishment deed and not gift deed for purpose of stamp duty — Not necessary that document must purport to relinquish share of relinquisher in favour of all remaining co-owners {" One of the co-owners can relinquish his share in a co-owned property in favour of one or more of the co-owners. The document executed by him in this regard would continue to be a relinquishment deed irrespective of whether the relinquishment is in favour of one or all the remaining co-owners of the property. There is no basis in law for the proposition that if the relinquishment deed is executed in favour of one of the co-owners, it would be treated as a gift deed. The law of stamp duty as applicable in Delhi treats relinquishment deed and Gift Deed as separate documents, chargeable with different stamp duties. It is not necessary that in order to qualify as a relinquishment deed the document must purport to relinquish the share of the relinquisher in favour of all the remaining co-owners of the property. Even if the relinquishment is in favour of one of the co-owners it would qualify as a relinquishment deed. ....