In Brief
This case concerns liability for stamp duty on agreements to sell executed prior to a final sale deed. The appellants argued that once a sale deed is executed and stamped, prior agreements to sell need not be separately stamped. The Supreme Court held that an agreement to sell with transfer of physical possession to the purchaser is deemed a conveyance under the Maharashtra Stamp Act and must be stamped accordingly, even if a subsequent sale deed is later executed. The Court affirmed that such agreements are the principal documents in the transaction. Recovery was limited to the difference in stamp duty and applicable penalties, not full conveyance duty twice.
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