https://www.taxtmi.com/caselaws?id=757862 An agreement of sale reciting delivery of possession was treated as capable of attracting ad valorem stamp duty under the Karnataka Stamp Act, 1957, because such an instrument is examined against the statutory definition of conveyance and the relevant duty entry. The Court also held that, where an insufficiently stamped instrument is referred for statutory determination, the trial court cannot mechanically impose ten times penalty under Section 34; the proper course is referral to the District Registrar under Section 39 for determination of duty and discretionary penalty, while ensuring the document is not received in evidence until proper duty and penalty are paid. en-us Mon, 02 Sep 2024 00:00:00 +0530 Wed, 04 Sep 2024 08:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757862 An agreement of sale reciting delivery of possession was treated as capable of attracting ad valorem stamp duty under the Karnataka Stamp Act, 1957, because such an instrument is examined against the statutory definition of conveyance and the relevant duty entry. The Court also held that, where an insufficiently stamped instrument is referred for statutory determination, the trial court cannot mechanically impose ten times penalty under Section 34; the proper course is referral to the District Registrar under Section 39 for determination of duty and discretionary penalty, while ensuring the document is not received in evidence until proper duty and penalty are paid. Case-Laws Indian Laws Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757862