https://www.taxtmi.com/caselaws?id=770505 Article 25(da) of the Maharashtra Stamp Act, 1958 requires stamp duty on a demerger scheme to be assessed by reference to the market value of shares issued or allotted in exchange and the consideration paid, subject to the statutory caps, not on the net worth or enterprise value of the demerged undertaking. The authorities cannot substitute enterprise value as the charging basis where the statute does not permit it. On the valuation issue, gross debt reflected in the scheme's commercial structure was not to be ignored, and the petitioner's computation prevailed. The assessment based on net worth was therefore unsustainable. en-us Fri, 09 May 2025 00:00:00 +0530 Mon, 12 May 2025 09:19:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770505 Article 25(da) of the Maharashtra Stamp Act, 1958 requires stamp duty on a demerger scheme to be assessed by reference to the market value of shares issued or allotted in exchange and the consideration paid, subject to the statutory caps, not on the net worth or enterprise value of the demerged undertaking. The authorities cannot substitute enterprise value as the charging basis where the statute does not permit it. On the valuation issue, gross debt reflected in the scheme's commercial structure was not to be ignored, and the petitioner's computation prevailed. The assessment based on net worth was therefore unsustainable. Case-Laws Companies Law Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770505