Pathak, J. - (1.) ON October 29, 1957, the Saraya Sugar Factory, a partner ship firm, executed a sale deed in favour of the Saraya Sugar Mills (P) Ltd., a private limited company, for an ap parent consideration of Rs 17, 35.601 and paid stamp duty accordingly. The deed was duly registered.
(2.) AN Inspector of Stamp and Registration obtained a copy of the re gistered deed and referred the matter to the Chief Inspector of Stamps stating as his opinion that the real consideration was Rs. 1.07, 04, 832/-, having regard to Art. 23 read with Section 24 of the Stamp Act and that, therefore, a heavier duty should have been paid. The Collector of Gorakhpur accepted the opinion and made an order dated March 9, 1960, for payment of the deficit duty. The Company applied under Sections 56 and 57 of the Act to the Board of Revenue, U. P., as the Chief Controlling Revenue Authority, praying that the Board should set aside the order of the Collector or refer the case to this Court for the decision of the three ques tions of law. One question arose on the plea of the Company that the Collector had no jurisdiction to take proceedings under Section 23 of the Stamps Act be cause the document was not "produced" before him within the meaning of that provision. Another question related to the true consideration covered by the sale deed and the duty payable in res pect of the instrument. The Board re jected the revision application by its order dated September 15, 1960. It held that the Collector had jurisdiction to summon the document from the Com pany for the purpose of examining it and deciding whether it had been properly stamped. It also upheld the view taken by the Collector that a further duty was due on the deed.
(3.) THE Company filed a petition under Art. 226 of the Constitution pray ing that the order of the Board reject ing the revision application be quashed and the Board be directed to make a reference to this court under Section 57. On December 2, 1965, this Court allowed the petition and issued the direction prayed for. The Board has now submit ted a statement of the case. After set ting out the facts it has framed the following two points of law for the opinion of this Court: "1. Whether the document is a sale deed for a consideration of Rs. 17, 35, 601/-as contended by the executants? 2. Whether in view of the provisions of Section 24 of the Stamp Act the sale consideration under the deed shall be deemed to Rs. 1, 07, 04, 832 being the amount shown in the document plus the amount of liabilities disclosed from the balance sheet referred to therein which the vendee under took to pay and duty liable to be paid thereon as held by the Board?" ;