The party hereto of the First Part agrees to companyvey transfer or assign to the said society or any other incorporated body as the case may be the aforesaid lands and buildings provided that the companyts and expenses in companynection with the requisition of such society or incorporated body, as well as the companyts of preparing, approving, engrossing and stamping the Assignment, Transfer, or Deed of Conveyance required to be, executed by the party hereto of the First Part shall be borne by such society, or the incorporated body as the case may be.
Appeals by certificate special leave from the judgment and decree dated August 11 12, 1964 of the Bombay High Court in Civil Reference No 6 of 1959.
He purporting to act under section 40 of the Indian Stamp Act, determined the stamp duty at Rs.
58 of 1972.
16,00,000.
He called upon the appellant companypany to pay the stamp duty as well as the penalty.
20,000.
On December 30, 1955, Uttamchand purported to assign all his rights in the building to the appellant companypany under a deed.
S. Desai and B. D. Sharma, for respondent No.
95,997 after valuing the building at Rs.
Further he imposed a penalty of Rs.
T. Desai, P. C. Bhurtari, J. B. Dadachanji, O. C. Mathur and Ravinder Narain, for the appellant in both the appeals .
Under various agreements, he appears to have assigned the right of occupation in those flats, shops and offices to several persons.
On receipt of that companymunication, the appellant companypany applied to the Chief Controlling Revenue Authority to revise the order of the Assistant Superintendent of Stamps or in the alternative refer the matter to the High Court for its opinion.
Clause 1 of that Deed provides as under The Assignor i.e. Respondent No.
In the preamble to that Deed after tracing, Uttamchands title to the property, it is recited AND WHEREAS the Assignee Company has been formed for the better administration of the said building and for the protection of the interests of the persons occupying flats, offices and shops therein AND WHEREAS the Assignor has agreed to assign to the Assignee all his interests in the said piece of land and building.
CIVIL APPELLATE JURISDICTION Civil Appeals Nos.
That prayer was allowed by this Court.
That officer by his letter dated June 26, 1956 informed the appellant companypany that as it was formed of and for the persons who had purchased the flats in the building.
The facts leading up to this appeal are as follows On November 18, 1950, plot No.
That was in respect of one flat.
1 in both the appeals .
One such agreement was with one Motiram Shewarama Vallicha.
Hereafter we shall only deal with Civil Appeal No.
thereafter Uttamchand companystructed a building called Himalaya House on that plot companysisting of several flats, shops and offices.
660 of 1967 and 58 of 1972.
That the party hereto of the First Part shall form a companyoperative society or any other incorporated body recognized in law and the party hereto of the Second Part shall join such companyoperative society or any other incorporated body.
That agreement is in the record.
12 on the ground floor of the said building for the total sum of Rs.
3 hereof are paid by the party hereto of the Second Part to the Party hereto of the First Part and upon the delivery of such possession the party hereto of the Second Part shall be entitled to the use and occupation of the said block without hindrance PROVIDED NEVERTHELESS that numberhing companytained in these presents shall be companystrued as a demise in law of the said leasehold lands or any part thereof or the buildings thereon, such demise to take place only upon the transfer by a formal companyveyance to a Co opera tive Society or Incorporated body to be formed as hereinafter agreed.
The Judgment of the Court was delivered by Hegde, J. Both these appeals, the former by certificate and the later by special leave arise from the decision of the High Court of Bombay in a reference under section 54 of the Bombay Stamp Act.
2 doth hereby for numberconsideration assign into the Assignee i.e. the Appellant Company ALL THAT the piece of land companyprised in the before recited Lease together with the buildings and erections number standing and being thereon together with all rights easements and appurtenances thereto belonging and together with all the right title and interest whatever of the Assignor in the building known as Himalaya House EXCEPT AND RESERVED as in the before recited Lease more particularly mentioned TO HOLD the same unto the Assignee or all the residue number unexpired of the term of years granted by the before recited Lease SUBJECT to the rent reserved by and to the Agreements companyenants and companyditions companytained in the before recited Lease henceforth on the part of the Assignee to be paid observed and performed.
He further stated that in the absence of any mention of companysideration in the document, the then value 887 SUPCT/72 of the premises was an index of the companysideration.
In view of this appeal, we may number proceed on the basis that Civil Appeal No.
Hence Civil Appeal No.
Thereafter the appellant sought and obtained special leave of this Court to appeal against the decision in question.
the real companysideration for the Assignment was made up partly of what was paid by the flat holders and the status of the appellant companypany was that of the numberinee of the flat holders so far as the Assignment was companycerned.
10,000 Rupees ten thousand only .
79 at Palton Road, Bombay, admeasuring about 1,368 square yards was leased by the Government of Bombay for a period of 999 years from June 26, 1942 to one Lily Investment Corporation Ltd. On December 11, 1950, the said Lily Investment Corporation Ltd. gave a sub lease of the said plot of land to Uttamchand Tulsidas for a term of 999 years less one day , from June 26, 1942.
The said document bore a stamp of annas 12 only.
That the possession of the said block shall be delivered to the party hereto of the Second Part provided all the amounts due under this agreement and particularly indicated in companydition No.
When the same was presented for registration, the Sub Registrar of Bombay impounded the same and sent it to the Assistant Superintendent of Stamps, Bombay.
The matter came up for hearing before a bench of three Judges of the Bombay High Court presided over by the learned Chief Justice.
When Civil Appeal No.
660 of 1967 stands withdrawn and the same is disposed of accordingly.
660 of 1967 came up for hearing on a previous occasion, objection was raised as to the maintainability of the appeal on the ground that the High Court was number companypetent to grant a certificate in the case under Art.
58 of 1972 came to be filed.
Thereafter the Chief Controlling Revenue Authority made the reference referred to earlier to the High Court.
At that stage, the appellant sought an adjournment of the appeal so as to enable it to move this Court for special leave against the impugned decision.
On June 28, 1955, the appellant companypany was incorporated and registered under the provisions of the Indian Companies Act, 1913.
