T NNANJUNDA SETTY AND Vs. STATE OF MYSORE

JUDGEMENT

(1.) These are references under Section 54 of the Mysore Stamp Act 1957 relating to the Stamp duty chargeable on two documents each of them dated 30-6-1957 purporting to be release deeds. The Mysore Stamp Act 1957 came into force on 1-6-1958. Hence it was the Mysore Stamp Act 1900 which governed the duty leviable on the documents and any question of adjudication relating thereto. The provision for the statement of any case before the High Court is Section 57 of that Act and we shall take the present references as made under that provision. As both the documents are in the same terms, one of them is reproduced below: "Release Deed. This Deed of release executed this 30th day of June 1957, by Sri --aged about--years, son of Tallam Peddanarayana Setty, residing at 27, Kumarapark West Extension, Bangalore-3 hereinafter called the Releasor of the one part, and Tallam Peddanarayana Setty, son of Tallim Nanjundaiah Setty, aged about 65, Hindu Vysya, Merchant, Manchenhalli, Goribidanur Taluk, hereinafter referred to as the Releasee of the other part. Whereas the Releasee and his sons including the Releasor constitute members of a Joint Hindu Undivided Family and have continued as such till this day, and, Whereas the Releasee and his sons including the Releasor were carrying on their family business of money lending at Manchenahalli and the whole-sale cloth business at Bangalore under the name and style of "Tallam Nanjunda Setty and. Bros.", and the family as such is a partner in the Firm of "messrs. D.K. Aswathanarayana Setty and Sons" having a six annas share, and also owning immoveable properties. Whereas the releasor expressed his desire to separate himself from the joint Family and the intention of the releasor was consented to by the other members of the Joint Family, on the condition that the releasor executes a release deed of all interests, rights and other claims on the releasee and other members of the Joint Family on receiving the consideration agreed to be paid by the releasee to the releasor as consideration in full quits of all his rights, title and the interests in respect of his share in the Joint Family Property, and Whereas the releasee agreed to pay as the share of the releasor Rs. 75,000/- (Rupees Seventy Five thousands only) and the releasor agreed to receive the same in full quits of his share of the family properties, Whereas the said agreement of the release is agreed to be duly recorded. Now therefore this instrument of release witnesseth: 1. The releasee agreed to pay to the releasor and has already paid the sum of Rs. 75,000/- as under: Rs. 50,000/- by a transfer from the amount at the credit of the releasee in the books of "Tailam Nanjunda Setty and Bros." Wholesale cloth merchants, D.S. Lane Chikpet, Bangalore, Rs. 25,000/- by a transfer from the amount at the credit of the releasee in the account books of M/s. D. R. Aswathanarayana Setty and Sons, Old Tharugupet, Bangalore", a registered firm under the Indian Partnership Act, to the credit of the releasor in the above account books and the releasor has agreed to receive the same in full and final settlement in lieu of his share of the Joint Family properties,

(2.) The releasor hereby declares that the releasee and the other members of the family and that he has no more claim, right or interest in the rest of the property of the releasee.

(3.) The releasee agrees that the amount paid herein as the share of the releasor by the individual property of the releasor with full rights of disposal in any manner whatsoever. In witness whereof the parties hereto have affixed their hands to this deed of release this 30th day of June 1957 in the presence of the witnesses attesting hereunder:'' 2. The relevant provisions of the Act which have a bearing on the question under consideration are given below. 3. Section 2(9) reads as follows: "Conveyance" includes a conveyance on sale and every instrument by which property, whether moveable or immoveable is transferred inter vivos and which is not otherwise specifically provided for by Schedule I (or by Schedule I-A., as the case may be): . Article 18 of Schedule I-A gives the stamp duty leviable in respect of a conveyance.