TMI Blog2020 (2) TMI 599X X X X Extracts X X X X X X X X Extracts X X X X ..... sideration specified in the agreement whichever was higher relating to proposed construction of building at the stage of construction and not thereafter. Expression building included any unit proposed to be construct - It was not intended to cover situation where the building was already constructed. In the facts of the case, it is evident that there was indeed a sale of flat/apartment by the petitioner and therefore stamp duty payable would have been under Article 23 of the Schedule-I to the Indian Stamp Act, 1899. The truncated valuation of UDS in the land for payment of stamp duty and registration of Construction Agreement on payment of stamp duty at 1% + 1% registration in the case of built up unit was not intended under the Stamp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner and her sister later executed an agreement with the 3rd respondent on 09.03.2012, to develop a multi-storied apartment consisting of 12 units of which 4 units were to be retained by the 3rd respondent while 8 units were to be given to the petitioner and her sister. The 3rd respondent later obtained completion certificate from the CMDA on 04.06.2014. 4. Before the completion certificate was obtained, the petitioner decided to sell one of the built-up unit i.e., a flat to a 3rd party and therefore executed sale deed on 09.04.2014 and transferred a proportionate undivided share (UDS) in the land in favour of the prospective purchaser. On the same day, a Tripartite Construction Agreement was signed between petitioner along with the sis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nly by the 3rd respondent who has rendered the construction service involving works contract. The reasons for truncating the transfer of the built-up unit to sale of UDS and by way of construction agreement was on account of the fact that the 3rd respondent had not obtained completion certificate from the CMDA only on 04.06.2014, therefore a Tripartite Construction Agreement was registered on 09.04.2014. 9. It is further submitted that the impugned order has been passed without following principles of natural justice and without actually examining whether indeed the petitioner has rendered any works contract as has been confirmed the impugned order. The respondents have defended the impugned intimation and communication. 10. I have co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or part thereof of the cost of the proposed construction or the value of construction or the consideration specified in the agreement whichever is higher. Explanation:- For the purpose of this clause, building includes any unit, residential, commercial, institutional, industrial or otherwise proposed to be constructed on an undivided share of land ; 14. The intention of the State Legislature was to levy and collect stamp duty at 1% was on the cost of the proposed construction or the value of construction or the consideration specified in the agreement whichever was higher relating to proposed construction of building at the stage of construction and not thereafter. Expression building included any unit proposed to be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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