Stamp duty payable on market value of properties being situated in the State

Himachal Futuristic Communications Limited Vs State of Rajasthan (Rajasthan High Court) Held that as per the scheme of arrangement and amalgamation, the assets situated in the state of Rajasthan and required to be assessed by the statutory scheme of the Stamp Act of 1998. Facts- The appellant engaged in the business of manufacturing telecom equipment, optical fibre cables and also providing telecom turnkey services, entered into an arrangement and amalgamation of another company namely, Sunvision Engineering Company Private Limited. The High Court of Himachal Pradesh sanctioned the scheme of a...