TaxTMI 
TaxTMI 
2022 (11) TMI 218
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....ny Petition CP(IB) No. 767/59/HDB/2019 for leave to either impound itself the transfer deeds and collect the appropriate stamp duty alongwith the penalty, if any, or otherwise may refer the instruments "Transfer Deed (Form 7B)" to the District Registrar/Collector, Hyderabad for the collection of the deficit stamp duty and penalty by impounding the same, in the interest of justice. 2. It is stated that the Respondent/Petitioner has raised a ground that the transfer deeds which are marked in the evidence are not properly stamped as according to the Indian Stamp Act. 3. It is stated that the procedure has been contemplated under Section 33 of the Indian Stamp Act wherein a deficiently stamped document can be impounded by the person in-ch....
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.... the full duty with which the instrument to which it relates is chargeable, be relieved from any penalty which he may have incurred under this Act by reason of the omission to state truly in such instrument any of the facts or circumstances aforesaid. 32. Certificate by Collector- (1) When an instrument brought to the Collector under section 31, is, in his opinion, one of a description chargeable with duty, and-- (a) the Collector determines that it is already fully stamped; or (b) the duty determined by the Collector under section 31, or such a sum as, with the duty already paid in respect of the instrument, is equal to the duty so determined, has been paid, the Collector shall certify by endors....
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....before whom any instrument, chargeable, in his opinion, with duty, is produced or comes in the performance of his functions, shall, if it appears to him that such instrument is not duly stamped, impound the same. (2) For that purpose every such person shall examine every instrument so chargeable and so produced or coming before him in order to ascertain whether it is stamped with a stamp of the value and description required by the law in force in [India] when such instrument was executed or first executed: Provided that-- (a) nothing herein contained shall be deemed to require any Magistrate or Judge of a Criminal Court to examine or impound, if he does not think fit so to do, any instrument coming before him in ....
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....d, Learned Senior Counsel, who is representing the Petitioner in the Company Petition present and submitted that he has taken notice on behalf of the Respondent 1 in this application and he will not be filing any counter on behalf of Respondent 1 and opposed the application orally contending that the application is not maintainable in as much as the very plea of transfer of shares of the 1st Respondent itself is not sustainable and untenable and the transfer deeds is void ab initio. 7. In the light of the same, the point that emerges for consideration is: Whether the Petitioner can be permitted to pay deficit stamp duty alongwith the penalty, if any, upon adjudication by this Tribunal, District Registrar/Collector, Hyderabad on ....
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....uch document will have to be looked into while deciding the case on merits. Therefore, the plea that Exhibit-R3 is since not at all stamped or insufficiently stamped, is not available to the parties. 11. Reliance in this regard can be placed on the following ruling of the Hon'ble Supreme Court of India, in the matter of Javer Chand and Others vs. Pukhraj Surana on 25.04.1961, has held that- "In our opinion, the High Court misdirected itself, in its view of the provisions of Section 36 of the Stamp Act, section 36 is in these terms:- "Where an instrument has been admitted in evidence, such admission shall not, except as provided in Section 61, be called in question at any stage of the same suit or proceeding on the g....
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....ly, such admission becomes final and cannot be reopened. Hence, the need for diligence not only on the part of the opposite Counsel, but also on the part of the Court having regard in the statutory obligation under Section 33 of Karnataka Stamp Act". 14. Reliance in this regard also can be placed on the following ruling of the Hon'ble High Court of Bombay, in re, Priya vs. Parushuram Printers and others reported in the wherein it has been held that- "In above circumstances, in my opinion, the Trial Court must have accepted the request of the present petitioner i.e. original defendant No. 4 to the extent of impounding of the said document. As I noted earlier, though the admissibility of the said document in evidence can....