Law:

Section:

(a) Co-operative, Societies Act (II of 1912)-------S. 28---Stamp Act (II of 1899), S. 57---Sale-deed executed by Joint Official Liquidators in favour of Society---Exemption from stamp duty claimed by such Safety---Validity---Society in question, claiming exemption from stamp duty on basis of Notification, dated 23rd October, 1919, issued by Governor ­General in Council under S. 28, Cooperative Societies Act, 1912--Such notification would be applicable to those instruments, which were executed by or on behalf of Society registered under the Act or deemed to be registered under the Act, or the instruments executed by the officers of such Societies, provided those instruments related to the business activities of registered or deemed to be registered societies---Society in question (claiming exemption from stamp duty) was neither formed at the time of making offer by sellers, nor at the time of acceptance of offer by the company Judge, nor at the time of handing over possession by liquidators to buyers---Society having been formed much after such episodes, with ulterior motives could not claim exemption from payment of stamp duty. (b) Cooperative Societies Act (II of 1912)--- ----S. 28---Cooperative Societies Act (VII of 1925), S. 72(3)---Repeal of Cooperative Societies Act, 1912 by S. 72, Cooperative Societies Act, 1925--­Effect---Provision of S. 72(3), Cooperative Societies Act, 1925 postulates that all rules, regulations, notifications and orders made or issued under Cooperative Societies Act, 1912, or which were in force at the time of commencement of Cooperative Societies Act, 1925, were to continue with operational effect until those were contrary to some provisions of the Act, thus principle of continuity was envisaged by provision of S. 72(3), Cooperative Societies Act, 1925, causing no vacuum---Notification dated 23rd October, 1919 issued under S. 28, Cooperative Societies Act, 1912, was thus alive and existing one. (c) Stamp Act (II of 1899)--- ----S. 29---Transfer of Property Act (IV of 1882), S. 55(l)(d) --- Liability to pay stamp duty---Duty to pay stamp in respect of transaction of sale would be upon buyer; who was to get document of sale registered,…

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