- (1.) I have had the benefit of going through a draft judgment of my learned Brother. While agreeing with His lordship's findings and decision I want to add few words of my own which are as follows :- In this case what should be the stamp duty payable on a conveyance for a transfer of unexpired period of leasehold interest is to be adjudged. Here, is a case of assignment and not by way of underlease. Under the provision of the amended provision of the Act, the market value of the property, as rightly submitted by Mr. Sakti Nath mukherjee, learned Amicus Curiae in this case, should be the value of the right to enjoy unexpired period of leasehold interest, as opposed to absolute ownership of the property. It would be unfair to equate the proprietary interest of a property with a right to enjoy unexpired period of leasehold interest for imposition of the stamp duty. It should be adjudged on the market valuation of unexpired period of leasehold interest acquired by the assignee lessee meaning thereby, the Collector has to adopt the methodology akin to the procedure of Section 23 of the Land Acquisition Act, 1894 for valuation, because no prescribed methodology is to be found in the Act .
(2.) THE sole common question involved in the present appeals against the judgment and order dated 8-7-2003 passed by the learned single Judge in W. P. 8360 (W) of 2003, W. P. 8377 (W) of 2003 and W. P. 8378 (W) of 2003 is whether the appellants/petitioners are liable to pay stamp duty on the basis of market value of the leasehold property at kalyani, Nadia for assignment of the lease to them by the original lessees.
(3.) THE facts leading to the writ petitions are that the lease was originally granted by the Government of West Bengal in 1953 in favour of the lessees for a period of 999 years at a fixed rent per year on some terms and conditions viz. (i) there will be no transfer without permission, (ii) construction on the leasehold land is to be completed within the specified period, (iii) forfeiture clause will be application etc. The lessees transferred their leasehold interest for the unexpired period in favour of the petitioners who paid stamp duty along with fees on the basis of consideration amount as mentioned in the deed of transfer.;