In Brief
A Municipal Corporation awarded contracts to appellants to collect tolls and parking fees. The Collector of Stamps demanded stamp duty at a higher rate for 'Lease' documents, rather than the lower 'License' rate. The appellants challenged this in writ petitions, which were dismissed by the High Court. The Supreme Court upheld the dismissal, holding that contracts letting out the right to collect tolls, fees, and charges fall within the definition of 'Lease' under Section 2(16)(c) of the Indian Stamp Act, 1899. The Act's definition of 'Lease' is broader than in the Transfer of Property Act and deliberately includes toll-collection instruments. As the contracts create rights and liabilities and bear signatures, they satisfy the statutory definitions and are chargeable to stamp duty as 'Leases', not 'Licenses'.
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