KOLTE PATIL DEVELOPERS LTD. Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) By the present petition, the petitioner has assailed the order dtd. 26/5/2014 passed by Respondent No.3, purportedly in exercise of powers under Sec. 33A of the Maharashtra Stamp Act, 1958. The challenge is founded on the contention that the impugned order travels beyond the statutory mandate and has been issued without jurisdiction.

(2.) The relevant facts, which have led to the filing of the present petition, may be stated thus. On 24/2/2004, Voltas Limited executed a Development Agreement in favour of the petitioner. The petitioner asserts that the said instrument constituted a development agreement involving transfer of development rights for a total consideration of Rs.21.80 crores. It is further the petitioner's case that the document was duly stamped in accordance with law and was registered before Respondent No.4.

(3.) Subsequently, on 23/4/2006, the Auditor General raised an audit objection contending that the Development Agreement was liable to be stamped at 10 percent by treating it as a conveyance. In consequence thereof, Respondent No.3 undertook scrutiny of the document and submitted a report expressing the view that the audit objection was not sustainable. Acting on the said report, Respondent No.3, by order dtd. 28/8/2006, rejected the audit objection and recorded a finding that proper stamp duty had already been paid. The said order was not challenged by any party and thus attained finality.