DAYAL SINGH Vs. COLLECTOR OF STAMPS

JUDGEMENT

(1.) Shri Satya Pal Behal held certain land on perpetual lease from the Delhi Development Authority. The lessee could not transfer the lease except with the previous consent in writing of the lessor. In granting such consent, the lessor could impose terms and conditions and was to be entitled to claim and recover 75 per cent of the "unearned increase in the value", i.e., the difference between the premium paid and the market value, of the land at the time of the transfer from the existing lessee to the new lessee. This amount was to be a first charge on the land. Satya Pal Behal transferred the lease to Dayal Singh on 23-8-1969. The Delhi Development Authority granted permission to the transfer "subject to a deposit of Rs. 52,401.95 as non-earned increase and further Rs. 271.85 as non-construction penalty which the vendee has agreed to pay after the completion of the lease deed". The transfer deed further says that "the vendor hereby sells, transfers, conveys all his lease-hold rights" in consideration of a sum of Rs. 29,700 paid to the vendor on 29-7-1961 by the vendee.

(2.) The question referred to us for opinion under section 57(2) of the Indian Stamp Act, 1899 are:-

(3.) Question No. 1 There is no dispute that the amount of Rs. 29,700.00 paid by the vendee to the vendor was a consideration for the sale deed dated 23-8-1969. It is, however, disputed by the vendee that the other two sums of Rs. 52,401.95 and Rs. 271.85 to be deposited by the vendee for payment to the Delhi Development Authority are a part of the consideration for the sale deed. The consideration for a transfer on which stamp duty is chargeable has to be found out in accordance with section 24 of the Stamp Act which runs as follows:-