Law: Stamp Act, of 1899

Section: ScheduleI,29

Law: Stamp Act, of 1899

Section: ScheduleI,29

Law:

Section: 31(b)

Stamp Act (II of 1899)-------S. 29 & Sched. I, Serial No.31(b), [as substituted by Punjab Finance Act, 1997]---Constitution of Pakistan, Art.199---Constitutional petition---Exchange deed---Stamp duty---Petitioner exchanged their properties and presented exchange deed for registration---Objection raised by Registrar was that stamp duty upon exchange deed was to be paid in respect of valuation of both the properties---Validity---Stamp duty was to be determined under Item No.31(b) of Schedule I of Stamp Act, 1899 as substituted by Punjab Finance Act, 1997, which provided determination of stamp duty value on the basis of property of the greatest value---Petitioners were liable to pay stamp duty on the basis of valuation of the property having more value---Petitioner had already deposited stamp duty with authorities according to the greatest value of the property, thus authorities did not have any lawful authority either to demand stamp duty on the basis of aggregate value of two properties Or to refuse to return the exchange deed instrument to petitioners, if they had paid stamp duty in accordance with the property carrying the greatest value---Act of Registrar demanding stamp duty on exchange deed of petitioners on the basis of aggregate value of two properties was declared to be illegal and without lawful authority---Petition was allowed accordingly. Qaiser Javed Malik v. Pervaiz Hameed and 2 others 2009 SCMR 846 rel. Sadaqat Ali Khan for Petitioner. Razzaq A. Mirza, Addl. A.-G. ORDER NASIR SAEED SHEIKH, J.--- Petitioners Nos.1 to 4 entered into an exchange deed dated 31-10-2009 with petitioner No.5 of two properties mentioned in the deed in question whereby the two properties mentioned therein were exchanged inter se by the parties. As per statement given in the deed in question the property bearing No.RH52-BII measures 4, marlas 7, sirsahi and was valued at Rs.3,00,000/- whereas the other property subject-matter of the exchange deed measures 2 marlas, 6 sirsahi and its value has been shown as Rs.2,00,000/-. This exchange deed was presented for registration before the Sub-Registrar Office, Hazro and has been registered. The Sub Registrar office has refused…

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