In Brief
The State of Uttar Pradesh challenged a High Court order quashing show cause notices for stamp duty on land exchanges between real estate companies. The companies had exchanged land under Section 161 of the U.P. Zamindari Abolition and Land Reforms Act, 1950, with State permission. The Supreme Court held that land exchanges authorized under Section 161, conducted without consideration or formal instruments, are not subject to stamp duty under the Transfer of Property Act or Indian Stamp Act. The Collector lacks jurisdiction to issue stamp duty notices on such exchanges. The State's appeal was dismissed.
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