https://www.taxtmi.com/caselaws?id=367111 A foreign award is not covered by Item 12 of Schedule I to the Indian Stamp Act, 1899, because the term "award" refers only to domestic awards contemplated when the statute was enacted. The later enactment of specific rules on foreign awards did not amend the Stamp Act to impose stamp duty on such awards. As a fiscal statute, the Stamp Act must be strictly construed, and any ambiguity operates in favour of the person liable to duty. Section 47 of the Arbitration and Conciliation Act, 1996 only specifies the documents required for enforcement and does not create a separate stamp-duty obligation. Non-stamping therefore does not make a foreign award unenforceable. en-us Thu, 13 Sep 2018 00:00:00 +0530 Sat, 15 Sep 2018 07:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367111 A foreign award is not covered by Item 12 of Schedule I to the Indian Stamp Act, 1899, because the term "award" refers only to domestic awards contemplated when the statute was enacted. The later enactment of specific rules on foreign awards did not amend the Stamp Act to impose stamp duty on such awards. As a fiscal statute, the Stamp Act must be strictly construed, and any ambiguity operates in favour of the person liable to duty. Section 47 of the Arbitration and Conciliation Act, 1996 only specifies the documents required for enforcement and does not create a separate stamp-duty obligation. Non-stamping therefore does not make a foreign award unenforceable. Case-Laws Indian Laws Thu, 13 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367111