https://www.taxtmi.com/caselaws?id=460061 An assignment of the lessee's unexpired leasehold interest is chargeable to stamp duty on the market value of the interest conveyed, not merely on the consideration stated in the deed. Under the amended stamp law and undervaluation rules, market value means the price the subject matter would fetch in the open market at execution, and it must be assessed on rational and comparable principles. The leasehold interest is not valued as absolute ownership, but the registering authority may determine deficit duty and keep registration in abeyance until payment. The appeals were allowed and registration on the basis of stated consideration was set aside. en-us Fri, 21 Sep 2007 00:00:00 +0530 Thu, 09 Jan 2025 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460061 An assignment of the lessee's unexpired leasehold interest is chargeable to stamp duty on the market value of the interest conveyed, not merely on the consideration stated in the deed. Under the amended stamp law and undervaluation rules, market value means the price the subject matter would fetch in the open market at execution, and it must be assessed on rational and comparable principles. The leasehold interest is not valued as absolute ownership, but the registering authority may determine deficit duty and keep registration in abeyance until payment. The appeals were allowed and registration on the basis of stated consideration was set aside. Case-Laws Indian Laws Fri, 21 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460061