https://www.taxtmi.com/caselaws?id=295964 An instrument that, on its true construction, creates an immediate and enforceable obligation to repay a specified loan in fixed instalments on fixed dates is a bond under the Indian Stamp Act, 1899. The court held that the definition of "bond" is broad and covers such instruments where the document itself creates the payment obligation, rather than merely acknowledging a pre-existing liability or providing for unascertained damages. Once classified as a bond, the document was chargeable under the applicable charging entry for bonds not otherwise provided for, and the Collector's duty assessment was upheld. en-us Wed, 11 Aug 1976 00:00:00 +0530 Mon, 28 Jun 2021 12:06:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295964 An instrument that, on its true construction, creates an immediate and enforceable obligation to repay a specified loan in fixed instalments on fixed dates is a bond under the Indian Stamp Act, 1899. The court held that the definition of "bond" is broad and covers such instruments where the document itself creates the payment obligation, rather than merely acknowledging a pre-existing liability or providing for unascertained damages. Once classified as a bond, the document was chargeable under the applicable charging entry for bonds not otherwise provided for, and the Collector's duty assessment was upheld. Case-Laws Indian Laws Wed, 11 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295964