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plz answer this

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Khushi

CA & CS Final

1367 Points Joined July 2008

i want answer of these Qs.

Q. 1Anudhav owes Rs. 10,000 to the partnership firm of Bose and chander. Bose dies leaving chander surviving. Anubhav sues chander for a debt of rs. 15,000 due in his individual capacity. can chander set-off the debt of rs. 10,000? - - from test papers 5/2009 of GCL-CS executive

Q.2Abhay's agricultural land was purchased by the government for the purpose of construction of a factory but no duty was paid for this transfer by the government. Abhay wanted to take back his land on the ground that gov. has not paid the duty and, therefore no sale deed was executed. will abhay succeed? give reasons.-- - from test papers 5/2009 of GCL-CS executive

if anyone knows the ans. plzzzzzzzzz tell me. or just tell me the page no. from where i can find out.

thank you very much

Replies (1)

CA. MANAL CHAWLA

CA + CS Professional

566 Points Joined May 2009

Ans.52. As per section 3 of the Indian Stamp Act 1899, no stamp duty shall be chargeable in respect of any instrument excuted by, or on behalf of, or in favour of, the government in cases where the government would be liable to pay the stamp duty.

In the given problem, Abhay’s agricultural land was purchased by the government for the purpose of construction of a factory. In terms of the said provision, no stamp duty is payable by the Government. As such, Abhay’s contention will not succeed.