https://www.taxtmi.com/caselaws?id=755849 The 2002 amendment fixing stamp duty for BOT lease deeds under the Indian Stamp Act was upheld because it did not alter the substantive law of lease, and neither legitimate expectation nor promissory estoppel can prevent a statutory change made in public interest. A BOT concession agreement was treated as a lease for stamp purposes because the Stamp Act uses a wider definition than the Transfer of Property Act and includes instruments letting tolls. However, stamp duty under the proviso is chargeable only on the amount likely to be spent by the lessee, so duty cannot be levied on the entire project cost and must be recomputed to reflect the lessee's actual share. en-us Fri, 19 Jul 2024 00:00:00 +0530 Mon, 22 Jul 2024 08:37:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755849 The 2002 amendment fixing stamp duty for BOT lease deeds under the Indian Stamp Act was upheld because it did not alter the substantive law of lease, and neither legitimate expectation nor promissory estoppel can prevent a statutory change made in public interest. A BOT concession agreement was treated as a lease for stamp purposes because the Stamp Act uses a wider definition than the Transfer of Property Act and includes instruments letting tolls. However, stamp duty under the proviso is chargeable only on the amount likely to be spent by the lessee, so duty cannot be levied on the entire project cost and must be recomputed to reflect the lessee's actual share. Case-Laws Indian Laws Fri, 19 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755849