https://www.taxtmi.com/caselaws?id=313249 The governing test is the true character of the transaction and the rights created, not the label used by the parties. A relinquishment deed is chargeable as a release deed only where a co-owner renounces an undivided interest in favour of another co-owner with a pre-existing share, so that the latter's interest is enlarged; if the recitals show a transfer of title or a unilateral benefit in favour of one co-owner, the instrument may fall within gift/conveyance treatment instead. On the first set of facts, the Delhi HC treated the deed as a valid release under Article 55. On the second, the deeds were treated as gift/conveyance instruments, but the penalty was set aside because no reasons were recorded and there was no clear intent to evade stamp duty. en-us Wed, 20 May 2020 00:00:00 +0530 Wed, 03 Apr 2024 04:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313249 The governing test is the true character of the transaction and the rights created, not the label used by the parties. A relinquishment deed is chargeable as a release deed only where a co-owner renounces an undivided interest in favour of another co-owner with a pre-existing share, so that the latter's interest is enlarged; if the recitals show a transfer of title or a unilateral benefit in favour of one co-owner, the instrument may fall within gift/conveyance treatment instead. On the first set of facts, the Delhi HC treated the deed as a valid release under Article 55. On the second, the deeds were treated as gift/conveyance instruments, but the penalty was set aside because no reasons were recorded and there was no clear intent to evade stamp duty. Case-Laws Indian Laws Wed, 20 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313249