D.B.R. CONSTRUCTIONS PVT. LTD. Vs. INSPECTOR GENERAL OF REVENUE
LAWS(BOM)-2020-2-16
HIGH COURT OF BOMBAY
Decided on February 06,2020

D.B.R. Constructions Pvt. Ltd. Appellant
VERSUS
Inspector General Of Revenue Respondents

JUDGEMENT

- (1.) The challenge in this petition is to the judgment and order dated 25th April 2017 passed by the respondent No.1 in Appeal No.72 of 2010. By the impugned order the respondent No.1, while dismissing the appeal filed by the petitioner has confirmed the order dated 27th September 2010 passed by the respondent No.2, Collector of Stamps, refusing to grant refund of a stamp duty of Rs.11,50,000/-.
(2.) The brief facts are that the petitioner had entered into an agreement (Styled as a Development Agreement) on 23 rd June 2009 for which the petitioner had paid a stamp duty of Rs.11,50,000/-. The said agreement was registered in the office of the Joint Sub Registrar, Thane. According to the petitioner on account of the rise in prices in the real estate market, the transaction fell through and the owner refused to deliver possession of the said property. In such circumstances, by a deed of cancellation dated 24 th December 2009, the agreement dated 23 rd July 2009 was cancelled. The cancellation deed is also registered in the office of the Joint Sub Registrar, Thane.
(3.) The petitioner in such circumstances, filed an application before the respondent No.2 on 29 th March 2010 seeking refund of the stamp duty. According to the petitioner the claim of refund is covered by Section 47(c)(5) of the Maharashtra Stamp Act ('Act' for short). It was the specific case made out that the agreement dated 23rd July 2009 was a 'development agreement- cum-agreement of sale' and therefore the limitation for claiming refund is governed by the proviso to Sub-Section 1 of Section 48 of the said act.;


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