https://www.taxtmi.com/caselaws?id=97273 A company that registers a transfer of shares on an instrument not duly stamped does not incur liability for the stamp duty on that deed. Section 34(3) of the Indian Companies Act bars registration unless the transfer instrument is duly stamped and executed, but it does not shift the duty to the company. Under section 29 and article 62(a) of the Indian Stamp Act, the duty falls on the person drawing, making, or executing the transfer instrument unless there is a contrary agreement. The Collector may recover duty only from the person legally liable, and the absence of a penalty provision similar to the one for unstamped share-warrants supports that no company liability is created merely by registration. en-us Mon, 08 Feb 1954 00:00:00 +0530 Mon, 16 Jan 2012 11:33:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97273 A company that registers a transfer of shares on an instrument not duly stamped does not incur liability for the stamp duty on that deed. Section 34(3) of the Indian Companies Act bars registration unless the transfer instrument is duly stamped and executed, but it does not shift the duty to the company. Under section 29 and article 62(a) of the Indian Stamp Act, the duty falls on the person drawing, making, or executing the transfer instrument unless there is a contrary agreement. The Collector may recover duty only from the person legally liable, and the absence of a penalty provision similar to the one for unstamped share-warrants supports that no company liability is created merely by registration. Case-Laws Companies Law Mon, 08 Feb 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97273