In Brief
A company in liquidation's assets (land, buildings, and plant machinery) were sold at court auction as a single consolidated lot for Rs.8.35 crores. The purchaser sought to register only the land and building for Rs.1.01 crores, attempting to avoid stamp duty on the plant and machinery. The Supreme Court held that permanently embedded plant and machinery forming part of the composite sale constitutes immovable property liable to stamp duty. Reading the sale deed with its preamble and Section 8 of the Transfer of Property Act, the actual transaction involved sale of all assets together. Registration authorities possess statutory power to verify true market value and assess aggregate stamp duty on distinct matters covered in one instrument, not artificially segmented values.
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