RAYMOND LIMITED MUMBAI Vs. STATE OF CHHATISGARH

JUDGEMENT

(1.) THE petitioners have preferred this writ petition under Article 226/227 read with Articles 14 and 19(1)(g) of the Constitution of India by which they have challenged the order dated 25th July, 2003 passed by the Board of Revenue, Chhattisgarh at Bilaspur. The Board of Revenue has held that the Board of Revenue being the Chief Controlling Revenue Authority has every jurisdiction to entertain a revision application under Section 56(4) of the Indian Stamp Act, 1899 (for short 'Stamp Act') as amended by the State of Madhya Pradesh, against the order dated 16-1-2001 passed by the Collector of the Stamp, District Janjgir Champa under Section 32 of the Act after following the procedure as envisaged under Section 31 of the Indian Stamp Act, 1899.

(2.) THE petitioner's petition is that the petitioner No. 1 established a cement division at Gopalnagar, District Janjgir Champa in the erstwhile State of Madhya Pradesh in the year 1982. The Govt. of Madhya Pradesh welcomed the setting up of the said cement division and granted several concessions to the petitioner No. 1. The petitioner No. 1 also generated large revenue for the State of Madhya Pradesh and Central Government from the date it commenced operations by payment of sales tax, stamp duty, excise, royalty and cess on limestone, electricity charges etc.

(3.) THE petitioners further mentioned that they also actively contributed for development of the area where they established the cement division and it's around area. In the year 1999 the petitioner No. 1 planned to centralize its focus and therefore decided to sell its cement division and after extensive discussion between the parties it was decided that the petitioner No. 1 would sell the cement division to Lafarge India Limited, as such it was decided that the cement division comprising of several immovable properties, movable properties, established sales and distribution network, employees etc. would be transferred to the Lafarge. Only immovable properties that were proposed to be transferred to Lafarge India Limited required payment of appropriate stamp duty. It was decided by the parties that in order to accurately pre-deter-mine the impact of stamp duty on the transaction an application should be made to respondent No. 2 (Collector of Stamps and District Registrar) under Chapter III of the Stamp Act. Accordingly the petitioner No. 1 made an application to the respondent No. 2 on 12th December, 2000 for adjudication of the Stamp Duty that was to be payable on the market value of the immovable assets, necessary details whereof including the details of the land proposed to be transferred and also the manner in which the lands were purchased, were provided to the respondent No. 2. Along with the application the petitioner also enclosed a copy of the report dated 14th November, 2000 made by the Chartered Designated Valuer listing the immovable properties that were proposed to be transferred by a deed of Conveyance and the values that the valuer attributed to such properties, i.e., Ex. P-2. Respondent No. 4 directed Mr. Madan Korpe to assist respondent No. 2 in valuation of the properties. Vide order dated 5th January, 2001 the Collector and District Magistrate formed a committee to inspect the properties proposed to be transferred by a deed of Conveyance and to independently report on the value of the same. The said committee was comprised of five persons with a Chairman S.D.O. (Revenue).