https://www.taxtmi.com/caselaws?id=437195 In a composite auction sale of company assets, stamp duty must be assessed on the true substance of the conveyance, not by isolating the land and buildings from permanently attached plant and machinery. Where the deed shows a single transfer for a consolidated consideration on an as-is-where-is basis, the transfer extends to immovable property and its incidents, including fixtures attached to the earth. The registering authority may also examine the real nature of the transaction, inspect property and records, and apply the statutory provisions on facts affecting duty and undervalued instruments to determine correct market value and deficit duty. Current assets, however, require separate treatment, and the exemption question was left for reconsideration. en-us Wed, 26 Apr 2023 00:00:00 +0530 Mon, 01 May 2023 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437195 In a composite auction sale of company assets, stamp duty must be assessed on the true substance of the conveyance, not by isolating the land and buildings from permanently attached plant and machinery. Where the deed shows a single transfer for a consolidated consideration on an as-is-where-is basis, the transfer extends to immovable property and its incidents, including fixtures attached to the earth. The registering authority may also examine the real nature of the transaction, inspect property and records, and apply the statutory provisions on facts affecting duty and undervalued instruments to determine correct market value and deficit duty. Current assets, however, require separate treatment, and the exemption question was left for reconsideration. Case-Laws Indian Laws Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437195