CANARA BANK Vs. STATE OF GUJARAT

JUDGEMENT

(1.) RULE . Learned AGP Mr. Yagnik waives service of Rule on behalf of respondent Nos.1 and 2.

(2.) BY way of this petition under the provisions of Bombay Stamp Act, 1958, the petitioner seeks following relief :

(3.) LEARNED advocate for the petitioner stated that in this case, the respondents have not themselves found that there is deficit stamp duty payable by the petitioner, but the petitioner drew the attention by letter along with affidavit about the same, therefore, it can be said a bona fide approach on the part of the petitioner. Even the documents were produced by the petitioner on its volition before the respondents. He further stated that respondent No.3 does not have any authority under Section 33 to impound the documents in question, he would not have any powers whatsoever to proceed under Section 39 any further including that of requiring the petitioner to pay the stamp duty along with penalty. The respondent No.3 misread and misapplied the provision of Article 36 of the Act. The impugned order passed by the respondent without affording any opportunity of hearing to the petitioner and the aspect of delay has been wrongly considered by the respondent. He further submitted that if it is presumed that there is any delay in preferring the Appeal/Revision within 90 days from the date of the order, the period of limitation would start from the date knowledge of the order when it is served upon the petitioner. He also submitted that the respondents have not properly appreciated that Mortgage Deed and Memorandum of Deposit of Title Deeds are altogether distinct and different documents. He relied upon the decision in the case of Shiddappa Vs. Rudrappa reported in AIR 1954 Bombay 462, wherein it is observed as under : It is not disputed that this document falls in the definition of a mortgage deed. It does not create an interest in property. The Stamp Act makes not distinction between a legal and an equitable mortgage. But the Legislature has provided that although a document may be a mortgage deed, if it falls within the special class of documents preferred to in Article 6, then it would be looked upon as an agreement relating to the deposit of title deeds and not a mortgage deed and the stamp duty payable will be under Art. 6 and not under Art. 40(b).