Stamp duty
This query is : Resolved
Sanchit Jain
(Querist)
31 October 2008
Is stamp duty leviable on order of High court under section 394 of Co.'s Act for amalgamation of companies on transfer of immovable properties in Delhi?
CMA Jitendra Singh
(Expert)
01 November 2008
Yes
CA Bosu babu
(Expert)
01 November 2008
Yes. as per stamps act any transfer of assets you shd pay stamp duty...transfer during amalgamation attracts Transfer defination of IT(Tax implications are different),,....
so every such transfer shd be pass through stamp duty...
However i came across one article in Hindu
Refer this
https://www.hinduonnet.com/businessline/2003/05/22/stories/2003052200260900.htm
so every such transfer shd be pass through stamp duty...
However i came across one article in Hindu
Refer this
https://www.hinduonnet.com/businessline/2003/05/22/stories/2003052200260900.htm
01 November 2008
The article in Hindu,referred above, is based on the decision in Gemini Silk Ltd Vs. Gemini Overseas Ltd.(2003) 53 CLA 328 (Cal).
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