https://www.taxtmi.com/caselaws?id=301860 A promissory note is payable on demand only where it creates immediate liability; if the instrument fixes a future time for payment, the reference to demand does not alter that character. The document was therefore treated as a promissory note payable otherwise than on demand, attracting the corresponding stamp duty, and insufficient stamping rendered it inadmissible in evidence. The instrument also could not be treated as a bond because a promissory note payable to order falls outside the statutory definition of bond, and attestation did not change its legal character. en-us Tue, 29 Nov 1966 00:00:00 +0530 Sat, 23 Apr 2022 11:16:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301860 A promissory note is payable on demand only where it creates immediate liability; if the instrument fixes a future time for payment, the reference to demand does not alter that character. The document was therefore treated as a promissory note payable otherwise than on demand, attracting the corresponding stamp duty, and insufficient stamping rendered it inadmissible in evidence. The instrument also could not be treated as a bond because a promissory note payable to order falls outside the statutory definition of bond, and attestation did not change its legal character. Case-Laws Indian Laws Tue, 29 Nov 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301860