CH. VENKATA SUBRAHMANYA BABU Vs. CHANSHNI LAKSHMANA DAS

JUDGEMENT

(1.) Neither the order of reference made by the learned Single Judge, nor that made by the Division Bench gives any definite indication as to the specific question or questions referred to the Full Bench. The learned Single Judge felt that :

(2.) As to the first question, we may remind ourselves of the fact that the Indian Stamp Act, 1899, (in short, the "Stamp Act"), levies stamp duty on various documents at varying rates and, therefore, it becomes necessary first to determine the nature of any document before deciding the question of proper stamp duty payable on such document. Accordingly the definition of a 'bond' or a 'promissory note' as given in the Stamp Act alone is material for the purpose of determination of the nature of any document. Sec. 2(22) of the Stamp Act defines 'promissory note' as follows :

(3.) As to the second question, the document in question reads as follows :