https://www.taxtmi.com/caselaws?id=379880 Article 23A of the Indian Stamp Act, 1899 provides a self-contained regime for stamp duty on amalgamation, merger, reconstruction, or demerger. The opening reference to conveyance does not displace the specific rates and limiting conditions in sub-clauses (a) and (b), and the phrase "whichever is higher" applies only within the alternatives stated in the relevant sub-clause. Where the transferor company holds no immovable property in West Bengal, duty is computed on the aggregate consideration paid by the transferee company at the rate specifically prescribed in Article 23A, not at the general conveyance rate under Article 23. The higher demand based on Article 23 was held unsustainable. en-us Fri, 03 May 2019 00:00:00 +0530 Thu, 22 Aug 2019 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379880 Article 23A of the Indian Stamp Act, 1899 provides a self-contained regime for stamp duty on amalgamation, merger, reconstruction, or demerger. The opening reference to conveyance does not displace the specific rates and limiting conditions in sub-clauses (a) and (b), and the phrase "whichever is higher" applies only within the alternatives stated in the relevant sub-clause. Where the transferor company holds no immovable property in West Bengal, duty is computed on the aggregate consideration paid by the transferee company at the rate specifically prescribed in Article 23A, not at the general conveyance rate under Article 23. The higher demand based on Article 23 was held unsustainable. Case-Laws Companies Law Fri, 03 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379880