1978 (4) TMI 241

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....d the 7th May, 1964 and arises in the following circumstances The respondent Company floated debenture loan of Rs. 2.50 crores and to secure the repayment of the said loan, executed debenture trust deed dated 10th April, 1962 mortgaging certain properties of the Company for a consideration of Rs. 2.50 crores in favour of the trustees, who were petitioners before the High Court. Further details have been given in the judgment of the High Court and it is not necessary to repeat them here. It appears that stamps to the extent of Rs. 2,50,300/were paid under the Indian Stamp Act and apart from that when the document was presented for registration, a registration fee of Rs. 1,25, 157.50 np were demanded as registration fee by the Sub- Registr....

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.... revenues of the State. In the instant case, it was not disputed before the High Court that the fee realised by the Registration Department under the notification above-mentioned was to form part of the general revenues of the State. It is, therefore, manifest that the second element of a fee was wholly wanting in this case and the High Court was, therefore, right in striking down the notification., Mr. Bhatt appearing in support of the appeal, submitted that by virtue of the fact that the document was registered, the respondents obtained initial advantage in using the document as an authentic piece of evidence as proof of title and this was, therefore. a sufficient service rendered for the imposition of the fee. Even assuming that this ....