2007 (8) TMI 303

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.... effect to the remission as per G.O.Ms.No.1224/Revenue dated 25.4.1964 read with G.O.Ms.No.224/Commercial Taxes (J1), dated 11.12.2003.  2. The Court heard the learned counsel on either side. 3. The case of the petitioner, as could be seen from the affidavit filed in support of the petition and also after hearing the learned counsel for the petitioner, is that he is the Managing trustee of the trust in question, and the petitioner was registered vide the Deed of Declaration of Trust dated 24.1.2005. It is also registered as a Public Charitable Trust under Section 12AA of the Income Tax Act 1961 by the Director of Income Tax (Exemptions) vide his order No. DIT(E) No.2 (970)/04-05 dated 18.5.2005 and approved by the Director of Inc....

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.... on the value of the property. The second respondent issued the impugned notice on 18.9.2006 demanding a sum of Rs.4,39,983/- being the remission of Stamp Duty claimed by the petitioner on the ground that the approval under Section 80G of Income Tax Act was granted subsequent to the registration of the Gift deed. The petitioner has also filed a petition dated 6.10.2006 before the third respondent praying for clarification in this regard and direction to the second respondent to return the gift deed dated 10.07.2006, by accepting the claim of the petitioner. But they have not passed any order thereon. Under compelled circumstances, the petitioner has filed the present writ petition before this Court. 4. The Court heard the learned counsel....

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..... 7. Item 47 of G.O. Ms.No.1224 dated 25.4.1964 reads as follows: "All gifts or settlements for charitable or religious purposes-Duty reduced to one half of the duty leviable on such instruments (G.O.Ms.No.639, revenue dated 20th march, 1948 and G.O.Ms.No.2993, revenue dated 15th December, 1948)." 8. Provided that, the above G.O. will apply only in the case being society or trust approved under Section 80G of the Act, 1961 (Central Act 43 of 1961). From the reading of the above G.O., it is abundantly clear that the remission of 50% of stamp duty is to be given, on the petitioner satisfying two conditions, firstly, the gift or settlement should be one for charitable or religious purpose, secondly, the said donee, society or trust sh....