https://www.taxtmi.com/caselaws?id=301858 Whether Shahjog hundis payable on a future stated date were chargeable as bills of exchange under the Indian Stamp Act turned on the wider statutory meaning of "bill of exchange payable on demand" in Section 2(3). The Rajasthan HC applied its earlier rulings that the Stamp Act expression is broader than its literal sense and can include instruments payable on a future date or at stated periods. It distinguished the narrower definition in the Negotiable Instruments Act and held that stamp liability must be determined only under the Stamp Act. The hundis were treated as bills of exchange payable on demand and therefore not chargeable with duty. 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 Whether Shahjog hundis payable on a future stated date were chargeable as bills of exchange under the Indian Stamp Act turned on the wider statutory meaning of "bill of exchange payable on demand" in Section 2(3). The Rajasthan HC applied its earlier rulings that the Stamp Act expression is broader than its literal sense and can include instruments payable on a future date or at stated periods. It distinguished the narrower definition in the Negotiable Instruments Act and held that stamp liability must be determined only under the Stamp Act. The hundis were treated as bills of exchange payable on demand and therefore not chargeable with duty. Case-Laws Indian Laws Mon, 02 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301858