https://www.taxtmi.com/caselaws?id=451123 An order sanctioning amalgamation or restructuring, together with the appended scheme, is an instrument under the Stamp Act because it operates to transfer assets and liabilities. Such a scheme amounts to a transfer inter vivos and falls within conveyance, so it is chargeable to stamp duty. The State may reduce or remit duty by circular or Government Order, including retrospectively, but it cannot introduce a new charging basis without legislative authority. Accordingly, the 2% duty component on immovable property value is valid, while the alternative 0.6% share-value computation is invalid. Duty already paid in another State must be credited against the duty payable in Tamil Nadu. en-us Mon, 19 Feb 2024 00:00:00 +0530 Wed, 20 Mar 2024 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451123 An order sanctioning amalgamation or restructuring, together with the appended scheme, is an instrument under the Stamp Act because it operates to transfer assets and liabilities. Such a scheme amounts to a transfer inter vivos and falls within conveyance, so it is chargeable to stamp duty. The State may reduce or remit duty by circular or Government Order, including retrospectively, but it cannot introduce a new charging basis without legislative authority. Accordingly, the 2% duty component on immovable property value is valid, while the alternative 0.6% share-value computation is invalid. Duty already paid in another State must be credited against the duty payable in Tamil Nadu. Case-Laws Indian Laws Mon, 19 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451123