https://www.taxtmi.com/caselaws?id=96646 Prescribed particulars filed under section 104 of the Indian Companies Act for shares allotted on the basis of an oral agreement to transfer business assets and goodwill were chargeable only as an agreement, not as a conveyance. The court held that section 104 required filing of the contract constituting title to the allotment, and if the contract was oral, the particulars attracted the same duty as the written contract would have borne. Because the arrangement contemplated only a future transfer and did not effect an immediate transfer of property inter vivos, it did not satisfy the definition of conveyance under the Stamp Act. Strict construction of fiscal statutes required refusal to extend stamp duty beyond the operative legal form. en-us Thu, 29 Mar 1934 00:00:00 +0530 Tue, 10 Jan 2012 10:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96646 Prescribed particulars filed under section 104 of the Indian Companies Act for shares allotted on the basis of an oral agreement to transfer business assets and goodwill were chargeable only as an agreement, not as a conveyance. The court held that section 104 required filing of the contract constituting title to the allotment, and if the contract was oral, the particulars attracted the same duty as the written contract would have borne. Because the arrangement contemplated only a future transfer and did not effect an immediate transfer of property inter vivos, it did not satisfy the definition of conveyance under the Stamp Act. Strict construction of fiscal statutes required refusal to extend stamp duty beyond the operative legal form. Case-Laws Companies Law Thu, 29 Mar 1934 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96646