FREEDOM CITY VENTURES Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) By this petition, the Petitioner seeks to challenge order dated 21 st June, 2014 passed by the respondent no.2-Inspector General of Registration and Chief Controller of Stamps, Maharashtra State rejecting application dtd. 24/7/2013 for refund of stamp duty as being barred by limitation.

(2.) The brief facts are that Petitioner herein, which is a partnership firm engaged in the business of buying, selling, developing, plotting lands and selling the same, for the purposes of its business in the year 2013 entered into discussions with some agriculturists, who were desirous of entering into development agreement with the Petitioner for developing survey no. 31, 35/0, 36/0, 37/1A, 37/2 situated at Mouje Jambhulwada, Tal. Shahapur, Dist. Thane (the "said property "). It has been submitted on behalf of the Petitioner that after negotiations and rounds of discussion, the owners of the land, in principle, agreed to execute a development agreement for a consideration of Rs.1,35,62,000.00 in favour of the Petitioner. Petitioner, thereafter, prepared the draft of the development agreement and submitted the same to the office of the respondent no.3- the Joint District Registrar,Thane Rural, for the purposes of adjudication and determination of the stamp duty that would be payable on the said document. By order dtd. 30/1/2013, respondent no.3- the Joint District Registrar, Thane Rural fixed the stamp duty at Rs.40,78,940.00 by calculating the same on the basis of the ready reckoner price. Pursuant to the said order the Petitioner purchased stamps of Rs.40,78,940.00 on 30/1/2013, which is evidenced by Challan bearing No. 0089 dtd. 30/1/2013.

(3.) It is the case of the Petitioner, that subsequently, the Petitioner was informed by the owners that out of 11 co-owners, of the subject property, 5 of them have refused to enter into the development agreement and therefore, the agreement could not be executed. Since, the owners were not desirous of executing the agreement, Petitioner had no other option but to cancel his plan to execute the agreement. It is submitted that accordingly, as per the provisions of Ss. 47 and 48 of the Maharashtra Stamp Act, 1958, (the "Maharashtra Stamp Act"), Petitioner submitted an application on 24/7/2013 to the Joint District Registrar, Thane Rural, for the refund of stamp duty of Rs.40,78,940.00 after deducting the necessary charges. It is submitted that the Petitioner also filed statement of its partner in support of the application for refund on 24/7/2013.