Case Law Details
Registrar of Assurances Vs ASL Vyapar Private Ltd. (Supreme Court of India)
Relevance: Stamp duty -Valuation of immovable property in West Bengal.
Sub- Whether Registrar while registering any immovable property ,the value of which has been determined in a court monitored public auction can apply the provisions of Section 47A of the Indian Stamp Act (West Bengal Amendment) Act, 1990 to allege undervaluation of the property and demand higher stamp duty?
A three judges bench of Supreme Court in this case was dealing with an important issue regarding determination of valuation of a property which itself was arrived in a court monitored auction sale ,the price of which was arrived at after advertisement in a widely circulated newspaper.
Moreover, the price was substantially low in view of more than 100 tenants being there. In a connected matter, the price of the properties was arrived by the Official liquidator where the company was being ordered to be wound up. The registrar in both these cases demanded differential stamp duty in view of Section 47A of the Act.
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