In Brief
The Supreme Court dismissed civil appeals filed by the Sub Registrar of Ernakulam challenging a lower court judgment concerning stamp duty assessment on a property sale conducted through Company Court auction. The property was sold at an auction bid of Rs. 1.935 crores, but the Company Court had valued the immovable property at Rs. 1.4 crores, which was accepted by the District Registrar. The Court held that stamp duty should be calculated on the Court-determined valuation (Rs. 1.4 crores) rather than the auction bid amount, dismissing the appeals as the lower court judgment was correct on the peculiar facts.
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