DEVENDRA SINGH Vs. STATE OF UP

JUDGEMENT

(1.) Heard Sri Anupam Kulshrestha, learned Counsel for the Petitioner and the learned standing counsel.

(2.) Petitioner No. 1 and Respondent No. 5 jointly took financial assistant of Rs. 10900000/- from the Central Bank of India for the purposes of establishing a cold storage. To secure the aforesaid loan Petitioner executed a document. The aforesaid document was referred under Section 33 of the Indian Stamp Act for determination of the deficient stamp duty. The Petitioner in the said proceedings claimed that the document is exempt from payment of stamp duty vide notification dated 10th June 1998 issued under Section 9 of the Indian Stamp Act which provides for remission of stamp duty exceeding Rs. 100/- on every instrument employed for obtaining loan or other financial assistance for agricultural activity. The Additional District Magistrate (Finance and Revenue) vide order dated 7.6.2005 refused to accept the contention of the Petitioner and held that activity of a cold storage is not exempt under the aforesaid notification and thus determined the deficiency to the tune of Rs. 7,63,000/-. The said order was modified by the order dated 30.7.2005 and the liability to pay the said stamp duty was apportioned between Petitioner No. 1 and the Respondent No. 5 is in the ratio of 50:50.

(3.) Aggrieved by the aforesaid, Petitioner preferred a revision under Section 56 but the same has also been dismissed vide order dated 26.2.2010.