https://www.taxtmi.com/caselaws?id=777838 Stamp duty refund claims may not be defeated merely by an incorrect statutory reference or by rigid reliance on limitation where the underlying share purchase transaction failed after mandatory governmental approval was rejected. The court reasoned that the delay in seeking refund arose from the pending approval process and was beyond the payer's control, so the substance of the claim was for duty paid on an unenforceable transaction. Limitation may bar the remedy, but not the underlying right, and refusing refund in these facts would unjustly allow the State to retain duty for a failed transaction. The refund was therefore held payable. en-us Wed, 03 Sep 2025 00:00:00 +0530 Wed, 03 Sep 2025 16:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777838 Stamp duty refund claims may not be defeated merely by an incorrect statutory reference or by rigid reliance on limitation where the underlying share purchase transaction failed after mandatory governmental approval was rejected. The court reasoned that the delay in seeking refund arose from the pending approval process and was beyond the payer's control, so the substance of the claim was for duty paid on an unenforceable transaction. Limitation may bar the remedy, but not the underlying right, and refusing refund in these facts would unjustly allow the State to retain duty for a failed transaction. The refund was therefore held payable. Case-Laws Indian Laws Wed, 03 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777838