https://www.taxtmi.com/caselaws?id=196265 A memorandum of understanding relied upon in Section 9 proceedings was prima facie insufficiently stamped because it contained substantive obligations for development, construction, financing, payment, and allocation of area. The Court had to examine the stamping objection at the threshold under Section 33(1) of the Bombay Stamp Act, 1958, and could not defer the issue to arbitration. As the document attracted Article 5(ga) of the Schedule, it had to be impounded and sent for adjudication of stamp duty and penalty before it could be acted upon. en-us Tue, 25 Jun 2013 00:00:00 +0530 Tue, 18 Jul 2023 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196265 A memorandum of understanding relied upon in Section 9 proceedings was prima facie insufficiently stamped because it contained substantive obligations for development, construction, financing, payment, and allocation of area. The Court had to examine the stamping objection at the threshold under Section 33(1) of the Bombay Stamp Act, 1958, and could not defer the issue to arbitration. As the document attracted Article 5(ga) of the Schedule, it had to be impounded and sent for adjudication of stamp duty and penalty before it could be acted upon. Case-Laws Indian Laws Tue, 25 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196265