https://www.taxtmi.com/caselaws?id=301858 The court determined that the hundis in question are considered "bills of exchange payable on demand" under the Indian Stamp Act, 1899. The trial court's decision that the hundis are not chargeable with duty was upheld. The court emphasized the broad definition of "bills of exchange payable on demand" under the Act, encompassing various payment conditions beyond immediate demand. Relevant case law was crucial in the court's decision, highlighting the importance of accurate application of the Stamp Act's definitions in determining duty chargeability. The petitions for revision were dismissed, with each party bearing their own costs. en-us Mon, 02 Mar 1981 00:00:00 +0530 Sat, 23 Apr 2022 11:03:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301858 The court determined that the hundis in question are considered "bills of exchange payable on demand" under the Indian Stamp Act, 1899. The trial court's decision that the hundis are not chargeable with duty was upheld. The court emphasized the broad definition of "bills of exchange payable on demand" under the Act, encompassing various payment conditions beyond immediate demand. Relevant case law was crucial in the court's decision, highlighting the importance of accurate application of the Stamp Act's definitions in determining duty chargeability. The petitions for revision were dismissed, with each party bearing their own costs. Case-Laws Indian Laws Mon, 02 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301858