https://www.taxtmi.com/caselaws?id=275286 Cancellation of an agreement to sell falls under Article 15 of Schedule I to the Bombay Stamp Act where possession was never transferred and the agreement neither created nor transferred any interest in immovable property. Article 25's deeming treatment of an agreement as a conveyance applies only when its statutory conditions are met. Without an underlying conveyance, cancellation cannot constitute a reconveyance. Stamp duty under Article 25 is therefore inapplicable; the instrument may be assessed as a cancellation deed under Article 15, where applicable. en-us Tue, 04 Jan 1994 00:00:00 +0530 Wed, 26 Sep 2018 13:08:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275286 Cancellation of an agreement to sell falls under Article 15 of Schedule I to the Bombay Stamp Act where possession was never transferred and the agreement neither created nor transferred any interest in immovable property. Article 25's deeming treatment of an agreement as a conveyance applies only when its statutory conditions are met. Without an underlying conveyance, cancellation cannot constitute a reconveyance. Stamp duty under Article 25 is therefore inapplicable; the instrument may be assessed as a cancellation deed under Article 15, where applicable. Case-Laws Indian Laws Tue, 04 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275286