M/S Birla Corporation Limited vs The State Of Madhya Pradesh
- Court
- Supreme Court
2026 INSC 738
REPORTABLE
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. __________________ OF 2026
(Arising out of SLP (C.) No.14468 of 2022)
M/S BIRLA CORPORATION LIMITED … APPELLANT(S)
VERSUS
THE STATE OF MADHYA PRADESH & ORS. … RESPONDENT(S)
J U D G M E N T
SANJAY KAROL, J.
1. Leave Granted.
2. The appellant applied for a lease to mine limestone from the respondent
State. The same was granted to them and accordingly an agreement was executed.
The dispute between the parties arose regarding the rate at which the stamp duty
for the agreement was to be calculated. Whether the determinant would be the
“ dead rent ” on the lease or would it be the “ anticipated royalty ”, is the question
in this appeal.
Signature Not Verified
2.1 This question arises in connection with a lease for the mining of
Digitally signed by
SOURAV PAL
Date: 2026.07.23
18:18:23 IST
Reason:
limestone for an area of 56.27 hectares at village Birhauli, Tehsil Raghuraj
Nagar, District Satna, when the appellant, who had applied for a fresh lease
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 1 of 14
nd
and vide letter dated 2 July 2004, was asked to pay a stamp duty of Rs.
4,32,00,000 by way of anticipated royalty, by the District Collector, Satna.
2.2 Being aggrieved by the order of the aforesaid authority, challenged
the appellant challenged this decision before the High Court of Madhya
Pradesh, Principal Bench at Jabalpur by way of Writ Petition No.2640 of
2004.
2.3 The Division Bench dismissed the writ petition relying on a
judgment of a coordinate Bench of that Court holding:
“25. As far as declaration of the relevant provision of the rule to be
ultra vires is concerned, it is a settled law that the same cannot be
declared as ultra vires owing to personal inconveniences.
Interpretation of the statute from the different parts of the Section
or the Rule are required to be considered as it is the basic intention
of the legislature which is required to be seen. It is required to be
analyzed that whether a particular proviso appended to a particular
Section is to be read in consonance with the main Section or
independently. In the present case, Section 26 of the Act of 1899
deals with payment of stamp duties on the instrument and the
proviso appended thereto it clearly speaks of the fact that the
proviso is applicable in cases of mining lease, therefore, the proviso
is only to be read with respect to the mining lease as an independent
provision.
…
28. In such circumstances, it is apparently clear that the proviso to
Section 26 of the Act of 1899 applicable to the mining lease is
required to be read separately from the main Section which is
dealing with imposition of stamp duty. As far as other documents
are concerned, the explanation is also inserted by the Government
in the year 2015 which makes it clear that the proviso is applicable
in the cases of mining lease. On bare reading of the proviso, it is
apparently clear that the stamp duty or the dead rent is to be charged
on the basis of the amount of royalty to be paid.”
2.4 Dissatisfied and aggrieved, the appellant has approached this Court.
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3. Following submissions have been made by the parties:
3.1 The appellant inter-alia contends that Section 26 of The Indian
1
Stamp Act 1899 has no application to the present case. Instead, Article
33(a) of Schedule 1A thereof is the only provision applicable to the
th
present case. The circular dated 15 March 1993 issued by the Under
Secretary, Mineral Resource Department, Government of Madhya
Pradesh provided that the determination of stamp duty for fresh leases to
be based on anticipated average royalty either as mentioned in the
excavation figures of the application form or the mining plan, whichever
is higher. The appellant’s challenge thereto i.e., the vires of this
nd
notification that was laid alongside the demand notice dated 2 July 2004,
has not been considered in the impugned judgment. The same is only an
executive exercise of power and does not have the authority of law. The
stamp duty ought to be calculated on the basis of dead rent since that is
the only ascertainable amount prescribed by Section 9-A of the Mines and
2
Minerals (Development and Regulation) Act, 1957 read with Third
Schedule of the Act and Rule 27(1)(c) of the Mineral Concession Rules,
3
1960 along with clauses 1 and 2 of Part V of the lease deed in Form-K.
The reliance of the respondent on the proviso of Section 26 of the Stamp
Act, is erroneous as the same is itself contrary to the main Section.
3.2 The respondent, on the other hand, inter alia submits that Section 26
of the Stamp Act provides a comprehensive mechanism to deal with
instruments where value of the subject matter cannot be determined at the
time of execution and the proviso thereto, specifically deals with
situations involving mining leases. There is harmony between the MMDR
1
Stamp Act
2
MMDR
3
1960 Rules
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 3 of 14
Act and the Stamp Act. The objective is to ensure that the State is not
deprived of its legitimate revenue on account of the fact that at the time
execution, actual royalty is difficult to quantify. The distinction between
the “ royalty ” under Section 9 MMDR and “ dead rent ” under Section 9A
thereof is clear. The statute’s intent behind providing ‘ whichever is higher ’
is to safeguard state revenue. The appellant’s argument that puts dead rent
at the centre of calculation of stamp duty is misconceived since the former
is not intended to be actual consideration but is only a minimum sum to
be paid. The actual economic value is represented by royalty that is
directly linked to the output. The prayer of the proviso being ultra-vires
is misconceived and misdirected.
4. Relevant provisions of different statutes referred to are extracted
hereinbelow:
The Mines and Minerals (Development and Regulation) Act, 1957
“ 9. Royalties in respect of mining leases.―
(1) The holder of a mining lease granted before the commencement
of this Act shall, notwithstanding anything contained in the
instrument of lease or in any law in force at such commencement,
pay royalty in respect of any 1[mineral removed or consumed by him
or by his agent, manager, employee, contractor or sub-lessee] from
the leased area after such commencement, at the rate for the time
being specified in the Second Schedule in respect of that mineral.
(2) The holder of a mining lease granted on or after the
commencement of this Act shall pay royalty in respect of any
1[mineral removed or consumed by him or by his agent, manager,
employee, contractor or sub-lessee] from the leased area at the rate
for the time being specified in the Second Schedule in respect of that
mineral.
(2A) The holder of a mining lease, whether granted before or after
the commencement of the Mines and Minerals (Regulation and
Development) Amendment Act, 1972 (56 of 1972) shall not be liable
to pay any royalty in respect of any coal consumed by a workman
engaged in a colliery provided that such consumption by the
workman does not exceed one-third of a tonne per month.
(3) The Central Government may, by notification in the Official
Gazette, amend the Second Schedule so as to enhance or reduce the
rate at which royalty shall be payable in respect of any mineral with
effect from such date as may be specified in the notification:
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 4 of 14
Provided that the Central Government shall not enhance the rate of
royalty in respect of any mineral more than once during any period
of three years.
9A. Dead rent to be paid by the lessee .―
(1) The holder of a mining lease, whether granted before or after the
commencement of the Mines and Minerals (Regulation and
Development) Amendment Act, 1972, shall notwithstanding
anything contained in the instrument of lease or in any other law for
the lime being in force, pay to the State Government, every year,
dead rent at such rate, as may be specified, for the time being, in the
Third Schedule, for all the areas included in the instrument of lease:
Provided that where the holder of such mining lease becomes liable,
under section 9, to pay royalty for any mineral removed or consumed
by him or by his agent, manager, employee, contractor or sub- lessee
from the leased area, he shall be liable to pay either such royalty, or
the dead rent in respect of that area, whichever is greater.
(2) The Central Government may, by notification in the Official
Gazette, amend the Third Schedule so as to enhance or reduce the
rate at which the dead rent shall be payable in respect of any area
covered by a mining lease and such enhancement or reduction shall
take effect from such date as may be specified in the notification:
Provided that the Central Government shall not enhance the rate of
the dead rent in respect of any such area more than once during any
period of three years.”
The Mineral Concession Rules, 1960
“31. Lease to be executed within six months. –
(1) Where, on an application for the grant of a mining lease, an order
has been made for the grant of such lease, a lease deed in Form K or
in a form as near thereto as circumstances of each case may require,
shall be executed within six months of the order or within such
further period as the State Government may allow in this behalf, and
if no such lease deed is executed within the said period due to any
default on the part of the applicant, the State Government may
revoke the order granting the lease and in that event the application
fee shall be forfeited to the State Government.
(2) The date of the commencement of the period for which a mining
lease is granted shall be the date on which a duly executed deed
under sub-rule (1) is registered.”
Relevant part of Form K reads as under:
Part V thereof, which particularly deals with rents and royalties, is as
follows:
“PART V
Rents and royalties reserved by this lease
To pay dead rent or royalty whichever is higher: -
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 5 of 14
1.The lessee shall pay, for every year except the first year of the
lease, dead rent as specified in clause 2 of this Part:
Provided that, where the holder of such mining lease becomes liable
under section 9 of the Act, to pay royalty for any mineral removed
or consumed by him or by his agent, manager, employee, contractor
or sub-lessee from the leased area, he shall be liable to pay either
such royalty or the dead rent in respect of that area, whichever is
higher.
Rate and mode of payment of dead rent.-
2. Subject to the provisions of clause 1 of this Part, during the
subsistence of the lease, the lessee/lessees shall pay to the State
Government annual dead rent for the lands demised and described in
Part I of this Schedule at the rate for the time being specified in the
Third Schedule to the Act, in such manner as may be specified in this
behalf by the State Government.
Rate and mode of payment of royalty :-
3. Subject to the provision of clause 1 of this part, the lessee/lessees
shall during the subsistence of this lease pay to the State Government
at such times and in such manner as the State Government may
prescribe royalty in respect of any mineral/minerals removed by
him/them from the leased area at the rate for the time being specified
in the Second Schedule to the Mines and Minerals (Development and
Regulation) Act, 1957.
Payment of surface rent, and water rate :-
4. The lessee/lessees shall pay rent and water rate to the State
Government in respect of all parts of the surface of the said lands
which shall from time to time be occupied or used by the
lessee/lessees under the authority of these presents at the rate of
Rs........ and Rs.......... respectively per annum per hectare of the area
so occupied or used and so in proportion for any area less than a
hectare during the period from the commencement of such
occupation or used until the area shall cease to be so occupied or
used and shall as far as possible restore the surface land so used to
its original condition. Surface rent and water rate shall be paid as
hereinbefore detailed in clause 2: PROVIDED THAT no such
rent/water rate shall be payable in respect of the occupation and use
of the area comprised in any roads or ways to which the public have
full right of access.”
Relevant clause of Part IX General Provisions thereof is extracted as under:
“9. For the purpose of stamp duty the anticipated royalty from the
demised land is Rs.… per year. ”
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 6 of 14
The Indian Stamp Act, 1899
“26. Stamp where value of subject-matter is indeterminate. —
Where the amount or value of the subject-matter of any instrument
chargeable with ad valorem duty cannot be, or (in the case of an
instrument executed before the commencement of this Act) could not
have been, ascertained at the date of its execution or first execution,
nothing shall be claimable under such instrument more than the
highest amount or value for which, if stated in an instrument of the
same description, the stamp actually used would, at the date of such
execution, have been sufficient:
Provided that, in the case of the lease of a mine in which royalty or
a share of the produce is received as the rent or part of the rent, it
shall be sufficient to have estimated such royalty or the value of such
share, for the purpose of stamp-duty, —
(a) when the lease has been granted by or on behalf of 2[the
Government], at such amount or value as the Collector may, having
regard to all the circumstances of the case, have estimated as likely
to be payable by way of royalty or share to the Government under
the lease, or
(b) when the lease has been granted by any other person, at twenty
thousand rupees a year, and the whole amount of such royalty or
share, whatever it may be, shall be claimable under such lease:
Provided also that where proceedings have been taken in respect of
an instrument under section 31 or 41, the amount certified by the
Collector shall be deemed to be the stamp actually used at the date
of execution.”
( emphasis supplied )
Indian Stamp ( Madhya Pradesh Amendment ) Act, 2002
Article 33 of schedule 1-A to the Stamp Act as amended by the
Indian Stamp (Madhya Pradesh Amendment) Act, 2002 (Act No.12
of 2002), is as under:-
Article 33 lease, including
an under lease, or sub
lease and any agreement to
let or sublet or any renewal
of lease.
The same duty as a conveyance (No.
22) for a market value equal to three
times the amount or value of the
average annual rent reserved.
(a) Whereby such lease
the rent is fixed and no
premium is paid or
delivered
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 7 of 14
5. Since the primary dispute pertains to the amount payable either on the basis
of royalty or dead rent, it is imperative to understand the difference between the
two.
5.1 Some of the dictionaries that are often cited, discuss these two
concepts as follows:
4
Wharton's Law Lexicon, 14th Edn. , defines “ dead rent ” at page 231 as:
“ Dead Rent ” A rent payable on a mining lease in addition to a
royalty, so called because it is payable although the mine may not be
worked.
“ Royalty ” is defined in Wharton's Law Lexicon, 14th Edn., at p.
5
742 , as:
“Royalty, payment to a patentee by agreement on every article made
according to his patent; or to the owner of minerals for the right of
working the same.”
The definition of “ royalty ” given in Black's Law Dictionary, 5th Edn., at p.
6
1195 , is as follows:
“Royalty. A payment reserved by the grantor of a patent, lease of a
mine, or similar right, and payable proportionately to the use made
of the right by the grantee. Raynolds v. Hanna, C. C.Ohio, 55 F. 800.
In mining and oil operations, a share of the product or profit paid to
the owner of the property. Marias River Syndicate v. Big West Oil
Co., 98 Mont. 254, 38 P.2d 599, 601.
A payment which is made to an author or composer by an assignee
or licensee in respect of each copy of his work which is sold, or to
an inventor in respect of each article sold under the patent. Sweet.”
5.2 A co-ordinate Bench in D.K. Trivedi & Sons v. State of Gujarat, 1986
Supp SCC 20 speaking through D.P.Madon J., discussed this difference in
the following terms:
4
https://dn721507.ca.archive.org/0/items/cu31924021688555/cu31924021688555.pdf
5
Wharton's law-lexicon : forming an epitome of the law of England ; and containing full explanations of the technical terms
and phrases thereof, both ancient and modern. Including the various legal terms used in commercial business ; together with a
translation of Latin law maxims, and selected titles from the civil, Scotch, and Indian law
6
Black's-Law-4th-edition-1891.pdf
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 8 of 14
“39. In a mining lease the consideration usually moving from the
lessee to the lessor is the rent for the area leased (often called surface
rent), dead rent and royalty. Since the mining lease confers upon the
lessee the right not merely to enjoy the property as under an ordinary
lease but also to extract minerals from the land and to appropriate
them for his own use or benefit, in addition to the usual rent for the
area demised, the lessee is required to pay a certain amount in respect
of the minerals extracted proportionate to the quantity so extracted.
Such payment is called “royalty”. It may, however, be that the mine
is not worked properly so as not to yield enough return to the lessor
in the shape of royalty. In order to ensure for the lessor a regular
income, whether the mine is worked or not, a fixed amount is
provided to be paid to him by the lessee. This is called “dead rent.”
“Dead rent” is calculated on the basis of the area leased while royalty
is calculated on the quantity of minerals extracted or removed. Thus,
while dead rent is a fixed return to the lessor, royalty is a return which
varies with the quantity of minerals extracted or removed. Since
dead rent and royalty are both a return to the lessor in respect of the
area leased, looked at from one point of view dead rent can be
described as the minimum guaranteed amount of royalty payable to
the lessor but calculated on the basis of the area leased and not on
the quantity of minerals extracted or removed. In fact, clause (ix) of
Rule 3 of the Rajasthan Minor Mineral Concession Rules, 1977,
defines “dead rent” as meaning “the minimum guaranteed amount of
royalty per year payable as per rules or agreement under a mining
lease”. Stipulations providing for the lessee's liability to pay surface
rent, dead rent and royalty to the lessor are the usual covenants to be
found in a mining lease.”
(emphasis supplied)
6. “ Dead rent ”, as can be understood from the above is the minimal amount
payable to the lessor, by the lessee irrespective of whether the mines so leased out
is put to use or not. The important factor in the determination thereof is the area
that is leased out whereas “royalty” is directly proportionate to the
amount/quantity of the minerals removed from the mine. As such, while one
depends on the area of the mine and is fixed, the other relates to the quantity of
minerals extracted only and is variable. Section 9 of the MMDR Act, and
particularly clause (2) thereof, underscores this interpretation of variability.
Regarding, dead rent Section 9A provides for its payment as being on rates as may
be specified by the Government, notwithstanding anything contained in any other
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 9 of 14
law or in the instrument of lease itself. Once the lessee is liable to pay both royalty
and dead rent, he must pay whichever of the two is higher.
7
7. In Mineral Area Development Authority v. SAIL , the determination of
royalty was delineated in the following terms by the 9-judge constitution bench:
“ 349. The rates of royalty are generally calculated on per tonnage basis
or ad valorem basis on the basis of the laid down formula. In case of the
former, royalty is determined on the basis of the following formula:
Royalty = quantity of mineral removed or dispatched * specified
rate of royalty in rupees
The formula for calculation of royalty on minerals on ad valorem basis
is as follows:
Royalty = sale price of mineral (grade wise and Statewise)
published by the Indian Bureau of Mines * rate of royalty (in
percentage) * total quantity of mineral grade produced or
dispatched
350. The above formula shows that royalty is calculated on the basis of
the quantity of minerals extracted or removed. [ Indian Bureau of
Mines, “Mineral Royalties”, (2011) 4.] The yield from mineral-bearing
land is nothing but the quantity of mineral produced. Royalty is per se
not the yield from a mineral-bearing land, but the yield (mineral
produced) is the important factor in determination of the rate of royalty.
Moreover, royalty can be considered as an income if it is paid to a
private landowner. [ H.M. Seervai, Constitutional Law of India , Vol. 3
(4th Edn.) 2468.] In case the minerals are vested in the State, the royalty
is paid to the State Government, and hence assumes the form of non-
tax revenues. Therefore, royalty is relatable to the yield of the mineral-
bearing land as well as the income in case the minerals vest in a private
person. To this extent, we clarify the reasoning of this Court
in Goodricke [ Goodricke Group Ltd. v. State of W.B. , 1995 Supp (1)
SCC 707] .”
8
8. In H.R.S. Murthy v. Collector of Chittoor this Court observed that
“royalty” normally connotes the payment made for the materials or minerals won
from the land.
7
(2024) 10 SCC 1
8
AIR 1965 SC 177
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 10 of 14
The Stamp Act is a law by which the executing parties of any agreement
are required to pay to the Government, sums as may be specified, relating to the
subject matter of the agreement. Undoubtedly, it is a source of considerable
revenue generation for the State. Since it pertains to the payment of money, it is a
fiscal statute. Fiscal statutes, as is well settled, have to be interpreted strictly and
mandatorily.
9. While discussing the nature of stamp legislation, this court speaking
9
through R.C. Lahoti J. held in District Registrar and Collector v. Canara Bank
as follows:
“10. The Stamp Act is a piece of fiscal legislation. Remedial statutes
and statutes which have come to be enacted on demand of the
permanent public policy generally receive a liberal interpretation.
However, fiscal statutes cannot be classed as such, operating as they do
to impose burdens upon the public and are, therefore, construed strictly.
A few principles are well settled while interpreting a fiscal law. There
is no scope for equity or judiciousness if the letter of law is clear and
unambiguous. The benefit of any ambiguity or conflict in different
provisions of statute shall go to the subject. In Dowlatram Harji v. Vitho
Radhoji [ILR (1880) 5 Bom 188 (FB)] the Full Bench indicated the
need for balancing the harshness which would be inflicted on the
subjects by implementation of the stamp law as against the advantage
which would result in the form of revenue to the State; the latter may
not be able to compensate the discontent which would be occasioned
amongst the subjects.”
10
[See: Hameed Joharan v. Abdul Salam , , Interplay Between Arbitration
11
Agreements under Arbitration Act, 1996 & Stamp Act, 1899 , In re ,;
12
Seetharama Shetty v. Monappa Shetty ,]
In similar terms, we must also look at the object and purpose of the MMDR. Its
primary purpose is to bring about uniformity in the taxes and royalties levied on
9
(2005) 1 SCC 496
10
(2001) 7 SCC 573
11
(2024) 6 SCC 1
12
2024 SCC OnLine SC 2320
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 11 of 14
mineral development in the country. This Court in Mineral Area Development
13
Authority v. SAIL , said thus about the objective of the MMDR:
“ 80. … The Industrial Policy Resolution of 1956 proposed an active role
for the State in setting up new industrial undertakings to achieve
“planned and rapid development” [ Cabinet Secretariat, Industrial
Policy Resolution (30-4-1956).] . Minerals such as coal, lignite, mineral
oils, iron ore, copper, zinc, and atomic minerals were exclusively
reserved for the State, while the private sector was allowed to
participate along with the public sector in case of minor minerals. The
MMDR Act was enacted in pursuance of the above goals stated in the
Industrial Policy Resolution. Another important consideration behind
the enactment of the MMDR Act was to revise old and outmoded
mining lease agreements and allow the private sector reasonable
encouragement to develop mines and minerals. [ J.R. Mehta, Lok Sabha
Debates, Vol. X (9-12-1957 to 21-12-1957), 711]… ”
10. At this stage, the argument of the parties regarding Section 26 of the Stamp
Act may be dealt with. As reproduced supra, the Section deals with payment of
stamp duty in cases where at the time of the execution of the agreement, the value
of the subject matter is indeterminate. The proviso thereto, deals specifically with
mining leases and provides that in such cases the estimated royalty or value of the
share thereof shall be sufficient for the purposes of determining stamp duty. It
further clarifies that in cases where the government is the lessor, the estimation is
to be carried out by the Collector. The 1993 notification, the vire s of which are
although challenged but such challenge almost entirely unsubstantiated which in
any case we find not to be ultra vires , states that for new quarry leases the rate
that is highest from amongst (a) quantity of production shown in the application
form; (b) quantity showed in schedule 3 of the M.P. Minor Mineral Rules 1961 or
(c) dead rent, is to be taken for calculation of royalty for the purpose of payment
of stamp duty. This makes it clear that the stamp duty payable is on the highest
amount as the basis for calculation of royalty from amongst these three which can
be either quantity based or the dead rent. It nowhere provides that the dead rent is
the only criteria on which determination of the royalty can be made.
13
(2024) 10 SCC 1
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 12 of 14
11. At the outset, we record our rejection of the case put forward by the
appellant that the proviso is inconsistent with the main provision. The section, as
is obvious, deals with Stamp duty to be paid in cases of indeterminate value.
Since, with respect to mining, actual value can only be determined once mining
operations commence, it is undisputed that on the date of the execution of the
agreement, the value is indeed indeterminate. This appears by way of a plain
reading and general understanding. It is difficult to conceive otherwise.
12. The next argument that requires attention pertains to Form K of the 1960
Rules. Rule 31 thereof provides that where an order has been made for the grant
of a mining lease, a lease deed as laid out in Form-K or in a form as near thereto
as circumstances of each case may require, shall be executed within six months
of the order, as extendable by the State Government. If the same is not executed
due to any default on the part of the applicant, however, the State Government
may revoke the order granting the lease and forfeit the amount of application fee.
Reproducing the entire form would only be adding pages without serving any
purpose and as such we refrain from doing so as relevant part thereof already
stands extracted.
13. The argument regarding Article 33, Schedule I of the Stamp Act (M.P.
Amendment), is not open to the appellant as a ground to assail the royalty
demanded by the respondent State. The parties have consciously signed the
Agreement as contained in Form K, which, at the cost of repetition, may be stated,
is a statutory form which clearly mentions that for the purposes of calculation of
Stamp Duty, anticipated royalty is the yardstick to be used.
14. The above makes abundantly clear that the amount which is higher is to be
paid and for the purposes of statutory rules, the method of calculation of stamp
Civil Appeal No….of 2026 @ SLP(C)No.14468 of 2022 Page 13 of 14
duty is through anticipated royalty only. A perusal of the record of this case reveals
that in the Form-K lease entered into between the parties, this clause does find a
place. In our considered view, when this is the case there remains no manner of
doubt as to the method by which stamp duty is to be computed.
15. For all the aforesaid reasons, the appeal is dismissed. All necessary
consequences will follow. No costs.
Pending application(s), if any, shall stand disposed of.
......................…………………….J.
(SANJAY KAROL)
.......................…………………….J.
( AUGUSTINE GEORGE MASIH)
New Delhi;
July 23, 2026
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