Alpha Heat Intercharge (i) Pvt. Ltd. Vs. Uoi and ors.

held: stay - pre-deposit--waiver--since revenue undertakes to take no action against the petitioners under ce rule 230 until the stay application is disposed of by cce (a) and for a period of two weeks thereafter, and also that the stay application will be disposed of by cce (a) within six weeks, petition is not being pressed and is disposed of accordingly. cea: section 35f.;petition no pressed. - bombay stamp act, 1958. schedule 1, article 36: [y.r. meena, cj & d.a. mehta & a.s. dave, jj] deed of mortgage liability to pay stamp duty held, any instruments in respect of transactions, relating to loans and advances, loans and mortgages, cash credit or overdraft bonds, agreements of pawn or pledge and letters of hypothecation executed by farmers for agricultural and land development purposes in favour of all commercial bank etc. are entitled to remission of entire duty chargeable under the stamp act with effect on and from 1.4.1979 under government notification dated 23.3.1979. thus, where loan was granted by bank of india under agricultural finance scheme towards purchase of air compressors, drilling rods and other accessories. use of the air compressors, drilling rods and other accessories in case of applicant who is a farmer can only be for purpose of drilling a bore-well for purpose of irrigation in process of carrying on agricultural activities. thus, it is apparent that loan was availed of by applicant-farmer for agricultural and land development purposes because a bore-well would go to increase the utility of agricultural land by ensuring round the year irrigation. the instrument in question would therefore fall within scope of complete remission granted to instrument of mortgage under government notification dated 23.3.1979 and hence not liable to stamp duty under article 36 of schedule i of the act. 1. mr. mehta, learned counsel for the respondents submits that in view of the filing of the appeal by the petitioners before the commissioner of central excise (appeals) and pendency of stay application for stay of recovery of the disputed demand before the commissioner of central excise (appeals) and the decision of this court in mahindra & mahindra v. union of india reported in : 1992(59)elt505(bom) , no action will be taken against the petitioners under rule 230 of the central excise rules, 1944 till the disposal of the stay application by the commissioner of central excise (appeals) and for a period of two weeks thereafter. he also submits that the stay application will be disposed of by the commissioner (appeals) as expeditiously as possible and at any rate within six weeks from today.2. in view of the above statement, this writ petition is not pressed and hence disposed of accordingly.