ITC LIMITED Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) BOTH these writ petitions between the same parties raise the identical questions and, therefore, were heard together and are disposed of by this common order.

(2.) THE first petitioner viz. TTC Limited agreed to purchase two flats viz. flat No. 302 and flat No. 202 in the building known as Samudra Mahal situated at Dr. Annie Beasant Road, Worli from the builders of the building by way of two separate agreements dated 27th August 1973. On each of the said agreements stamp duty of Rs. 5/- was paid. The agreements were duly registered with the Sub-Registrar of Assurances in the year 1973 itself. The possession of the flats were taken by the first petitioner also in the year 1977. It appears that the respondent No. 2 i. e. Dy. Inspector General of Registration and Dy. Controller of Stamps (Enforcement), Bombay by notice dated 30th October, 1994/20th May, 1994 asked the first petitioner to furnish the said agreements since according to him the proper stamp duty payable on the said agreements was not paid. According to respondent No. 2 herein the said agreements were conveyance of the property and stamp duty payable on the said agreements was the stamp duty payable on the market value of the property.

(3.) ON 21-7-1994 reply was sent by the first petitioner to the respondent No. 2. It was replied that notice was misconceived and proper stamp duty was paid on the said agreements. The respondent No. 2, however, repelled the contentions raised by the first petitioner and directed it to pay stamp duty of Rs. 29,750/- treating the market value of the flat No. 302 at Rs. 2,25,000/ -. The respondent No. 2 also imposed penalty at Rs. 250/ -. With regard to other flat No. 202, the respondent No. 2 similarly directed the first petitioner to pay stamp duty of Rs. 29,750/- treating the market value of flat No. 202 at Rs. 2,25,000/ -. A penalty of Rs. 250/- was imposed also regarding flat No. 202. The order dated 4th August, 1994 passed by respondent No. 2 Dy. Inspector General of Registration and Dy. Controller of Stamps (Enforcement), Bombay is impuged in these two writ petitions.