2013 (9) TMI 174

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....e sale deed are reproduced below: "This Indenture made this 3rd day of May One Thousand Nine hundred Ninety Five between Aditya Mills limited a Company incorporated under the Companies Act, 1956 having its Registered Office at Madanganj Kishangarh (Rajasthan) through their duly constituted attorney Sri Kishan Singh Kothari S/o Sri Tej Raj Kothari, R/o Old Kotwali Road, Kishangarh, Distt. Ajmer (Rajasthan) hereinafter called the VENDOR (which expression shall unless excluded by or repugnant to the context, be deemed to include his heirs, executors, administrators, representatives, etc.) of the ONE PART AND Vinit Traders & Investment Ltd. a Company incorporated under the Companies Act, 1956, having its registered office at 135, Canning Stree....

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....land in the name of the VENDOR who has been and is paying the ground rent and house tax to the authorities concerned. AND WHEREAS the VENDOR has agreed to sell and the VENDEE, acting on the aforesaid representations, have agreed to purchase the said property and the lease-hold rights in the said land as an absolute estate at or for the price of Rs.2,85,000/- (Rupees Two Lacs eighty five thousand) only." At the time of registration, the value of the land and building was shown as Rs.2,85,000/- and stamp duty of Rs.35,625/- was paid. Sub- Registrar, Almora did not agree with the valuation of the property, i.e., the land and building by respondent No.1 and its vendor and made a reference to the Collector under Section 47A(2) of the Indian St....

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....of buildings is also increasing. In deciding value of buildings their usefulness cannot be ignored. On this basis if monthly rent of the entire banglow be taken as Rs.2000/- and rent of each other room (four rooms) be taken Rs.l00/- per month then also the value of property comes to Rs.2400/- x 12 x 25 = Rs.7,20,000/-. Therefore, the valuation of the property seems to be appropriate on the basis of this incident. Accordingly the value of building is decide as Rs.7,20,000/-. The value of 66 nali land transferred in the deed comes to Rs.39,60,000/- at the present rate of Rs.60,000/- per nali. The same value was also assessed by the Tehsildar. Therefore, the value of the 66 nalis transferred land is decided as Rs.39,60,000/-. The Tehsildar Ra....

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....nately, neither the Collector and the Chief Controlling Authority nor the learned Single Judge called upon respondent No.1 to produce deed dated 29.9.1978 and decided the issue relating to the stamp duty without having the benefit of going through the contents of deed dated 29.9.1978, which would have helped them to determine true nature of the transaction between Aditya Mills Ltd. and respondent No.1. In our considered view, the Collector could have decided whether deed dated 3.5.1995 was a lease deed simpliciter or sale deed for the purpose of stamp duty only after going through the contents of deed dated 29.9.1978 but he did not bother to undertake that exercise. The learned Single Judge also committed the same mistake and straightaway ....