Supreme Court · 2022 INSC 477 · Decided 26 April 2022
Asset Reconstruction CO. (India) LTD. v. Chief Controlling Revenue Authority
- Court
- Supreme Court of India
- Citation
- 2022 INSC 477 · [2022] 4 S.C.R. 1095
- Case number
- CIVIL APPEAL No. 3070/2022
- Decided
- 26 April 2022
- Bench
- HEMANT GUPTA, V. RAMASUBRAMANIAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- SARFAESI Act; Stamp Act Section 9(a), 54(1)(a)
Headnote
Gujarat Stamp Act, 1958 - ss. 9(a), 54(1)(a) - Art. 20(a), 45(f) of Schedule I - Deed of assignment containing Power of Attorney (POA) - POA chargeable to stamp duty or not - The Full Bench of the High Court came to conclusion that the appellant (an who was assigned debt by the bank) has to pay stamp duty as fixed by Art.45(f) - High Court opined that merely because the power to sell, forms part of the deed of assignment under Schedule 3, the appellant could not escape the charge of duty and that the PoA is required to be considered
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