https://www.taxtmi.com/caselaws?id=291565 An instrument granting film distribution rights against advances, with a charge on future collections and a covenant to deliver positive prints after completion of the film, is not a mortgage deed for stamp duty purposes. A mortgage deed under the Indian Stamp Act requires a present transfer or creation of rights over specified property existing at the time of execution; rights relating only to property or proceeds to arise in future do not satisfy that requirement. The arrangement may create contractual rights enforceable later, but it does not constitute a mortgage under Article 40 of Schedule I. The instrument is therefore chargeable only as an agreement, not as a mortgage deed. en-us Fri, 31 Mar 1967 00:00:00 +0530 Tue, 17 Nov 2020 18:11:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291565 An instrument granting film distribution rights against advances, with a charge on future collections and a covenant to deliver positive prints after completion of the film, is not a mortgage deed for stamp duty purposes. A mortgage deed under the Indian Stamp Act requires a present transfer or creation of rights over specified property existing at the time of execution; rights relating only to property or proceeds to arise in future do not satisfy that requirement. The arrangement may create contractual rights enforceable later, but it does not constitute a mortgage under Article 40 of Schedule I. The instrument is therefore chargeable only as an agreement, not as a mortgage deed. Case-Laws Indian Laws Fri, 31 Mar 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291565