https://www.taxtmi.com/caselaws?id=460697 Stamp duty valuation must be determined by reference to the land's actual character on the date of execution of the sale deed, not by its possible future residential use. Where the instrument covered agricultural land, the Collector could not base market value on adjacent land that had been converted for residential purposes or on the purchaser's intended future conversion. The existing nature of the property was the relevant factor, and a hypothetical future use was not material to stamp valuation. The Collector's valuation was therefore unsustainable, and the demand for deficient stamp duty and registration charges was set aside. en-us Fri, 10 Apr 2015 00:00:00 +0530 Tue, 11 Feb 2025 21:16:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460697 Stamp duty valuation must be determined by reference to the land's actual character on the date of execution of the sale deed, not by its possible future residential use. Where the instrument covered agricultural land, the Collector could not base market value on adjacent land that had been converted for residential purposes or on the purchaser's intended future conversion. The existing nature of the property was the relevant factor, and a hypothetical future use was not material to stamp valuation. The Collector's valuation was therefore unsustainable, and the demand for deficient stamp duty and registration charges was set aside. Case-Laws Indian Laws Fri, 10 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460697