Out of this Rs.
3,89,000 to the said Bank.
3,00,000 for the machinery of Sri Govind Oil Mills, Rs.
Appeal by special leave from the judgment and order, dated March 20, 1959 of the Allahabad High Court in Civil Miscel laneous Reference No.
25,000 for stores, Rs.
The Ice and Cold Storage factory was being run by the vendors in partnership with Shyam Sunder Gupta and Satya Prakash Gupta.
526 of 1962.
Ten Lakhs, i.e., the entire amount due to the mortgagee Bank, and duty is payable thereon.
The vendors had equitably mortgaged these properties with the Chartered Bank of India, and a sum of Rs.
1,00,000 only and that the Stamp duty payable in respect of it was to be calculated on the amount and number on any higher amount.
The High Court gave the following answer to the first three questions The document in question is a sale deed for a companysideration of Rs.
The executants, hereinafter referred to as the vendors, were lessees of two plots of land and on these plots they had companystructed an oil mill, known as Sri Govind Oil Mills, an Ice and Cold Storage Factory, and buildings in which the factories stood.
On what amount is the additional stamp duty under section 107 of the Kanpur Development Act, 1945, leviable.
1,12,000 for the plant and machinery and goodwill of the Ice and Cold Storage Factory, Rs.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
66,000 was payable to Messrs Shyam Sunder Gupta and Satya Parkash Gupta in respect of their share in the Kanpur Ice and Cold Storage Factory, and the remainder to the vendors.
The respondent is one of the executants of the deed dated December 15, 1952.
5,00,000 was paid to it.
In order to pay off the debt, the vendors entered into a companytract with Messrs Oil Corporation of India Ltd., hereinafter referred to as the vendees, for the sale of the lands, buildings, plants, machinery and stores and goodwill of the Govind Oil Mills and Ice Cold Storage Factory for a sum of Rs.
The relevant facts are as follows.
The Chartered Bank agreed to release from its charge the properties to be companyveyed to the vendees provided a sum of Rs.
1,00,000 for the buildings and the lessee right, in the plots.
1,00,000 as companytended by the executants.
The Board of Revenue referred the following questions to the High Court Whether the document is a sale deed for a companysideration of Rs.
P. Rana, for the appellant.
The vendees agreed to pay the said Bank a sum of Rs.
The Judgment of the Court was delivered by Sikri, J. This is an appeal by special leave against the judgment of the High Court of Allahabad in a reference under S. 57 of the Indian Stamp Act, 1899.
213 of 1955.
1 1,000 to the Ban to make up the balance.
The appellant, the Board of Revenue, challenges the answer given by the High Court to the said three questions.
4,89,000, while the vendors agreed to pay Rs.
18,000 for goodwill, and Rs.
In pursuance of this agreement, the vendors handed over the possession of plant and machinery of the two factories to the vendees, who paid before December 15, 1952, Rs.
V. Viswanatha Sastri and J. P. Goyal, for the respondent.
10,00,000 was due to the Bank.
B. Agarwala and 0.
Whether the companysideration of the sale will be deemed to be Rs.
5,55,000 and duty liable to be paid thereon as held by the Board.
5,55,000, made up as follows Rs.
