In Re: Reference Under Stamp Act, Section 49 - Court Judgment

SooperKanoon Citationsooperkanoon.com/794725
SubjectProperty
CourtChennai
Decided OnAug-09-1892
JudgeArthur J.H. Collins, Kt., C.J., ;Muttusami Ayyar, ;Parker and ;Wilkinson, JJ.
Reported in(1893)ILR16Mad419
AppellantIn Re: Reference Under Stamp Act, Section 49
Excerpt:
madras regulation ii of 1825, section 4 - ad valorem stamp duty. - 1. the deed is not an instrument of gift but purports to transfer to chidambaram pillai the property of the executant's husband, subject to the payment of his debts. it also purports to reserve 1/4 cawni for the maintenance of the executant and provides for the re-transfer of the property in case she should give birth to a son. there is nothing to show that the value of the interest transferred exceeded its. 64. the value of the property cannot be taken as the value of the interest actually transferred. we are unable to hold that the document is liable to stamp duty.
Judgment:

1. The deed is not an instrument of gift but purports to transfer to Chidambaram Pillai the property of the executant's husband, subject to the payment of his debts. It also purports to reserve 1/4 cawni for the maintenance of the executant and provides for the re-transfer of the property in case she should give birth to a son. There is nothing to show that the value of the interest transferred exceeded Its. 64. The value of the property cannot be taken as the value of the interest actually transferred. We are unable to hold that the document is liable to stamp duty.