https://www.taxtmi.com/caselaws?id=298036 A mere change of company name did not amount to a transfer of entity or create a taxable conveyance under the Bombay Stamp Act, 1958. The Court noted that the declarations were made after conversion from a private limited company to a limited company and that no consideration was paid. Since Articles 20 and 57 compute stamp duty on the basis of consideration, the absence of any consideration meant the computation machinery could not operate. As the charging and computation provisions form an integrated code, the stamp duty and penalty demands could not be sustained and were quashed. en-us Wed, 03 Jul 2002 00:00:00 +0530 Wed, 06 Oct 2021 13:09:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298036 A mere change of company name did not amount to a transfer of entity or create a taxable conveyance under the Bombay Stamp Act, 1958. The Court noted that the declarations were made after conversion from a private limited company to a limited company and that no consideration was paid. Since Articles 20 and 57 compute stamp duty on the basis of consideration, the absence of any consideration meant the computation machinery could not operate. As the charging and computation provisions form an integrated code, the stamp duty and penalty demands could not be sustained and were quashed. Case-Laws Companies Law Wed, 03 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298036