AIR 1984 GUJARAT 118

Gujarat High Court

Hon'ble Judge(s): P. Subramanian Poti , C.J. AND G. T. Nanavati, I. C. Bhatt , JJ

(A) Bombay Stamp Act (60 of 1958) , S.9— Notification dated 28-3-1968 - Exemption from stamp duty under notification - Co-operative society taking sale of plot with superstructure thereon for price for exceeding exemption limit - Exemption from stamp duty is not available. Where a Co-operative Housing Society took sale of some plot with superstructure thereon consisting of twelve flats for a price which far exceeded the limit of Rs. 50,000/- up to which exemption was available, the society would not be entitled to the exemption from stamp duty notwithstanding the fact it took the sale by execution on the same day of twelve independent documents for 1/12th undivided share in the land and building for Rs. 40,500/- each.(Para 9) (B) Bombay Stamp Act (60 of 1958) , S.32(2), S.33, S.68— Impounding of document - Collector discovering non payment of stamp duty in respect of documents relating to property situate within his jurisdiction - He can impound them. Under Section 68 when the Collector has "reason to believe" in the existence of instruments under-valued for the purpose of stamp duty or deficitly levied with duty, he has wide powers to authorise search, seizure and even impounding. The scope of the power under Section 33 (1) has to be read in....