Securing Obligations: SC Clarifies Stamp Duty on Deeds Executed by Principal Debtors

Godwin Construction Pvt. Ltd. Vs Commissioner (Supreme Court of India) Nomenclature Irrelevant- Essence of Transaction Decides Stamp Duty- Title Can’t Trump Substance- Supreme Court Classifies ‘Security Bond-cum-Mortgage Deed’ as Mortgage for Stamp Duty When Borrower Pledges Own Property, It’s a Mortgage – Not a Security Bond, Rules Supreme Court- SC holds ‘Security Bond-cum-Mortgage Deed’ executed by principal debtor chargeable under Article 40- not Article 57- of Indian Stamp Act Appellant executed a document titled “Security Bond cum Mortgage Deed” in favour of the Mee...