Supreme Court of India
Asset Reconstruction Co. (india) Ltd. v. Chief Controlling Revenue Authority
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From the headnote
Gujarat Stamp Act, 1958 – ss. 9(a), 54(1)(a) – Art. 20(a), 45(f) of Schedule I – Deed of assignment containing Power of Attorney (POA) – POA chargeable to stamp duty or not – Th e Full Bench of the High Court came to conclusion that the appellant (an asset reconstruction company, who was assigned debt by the bank) has to pay stamp duty as fixed by Art.45(f) – High Court opined that merely because the power to sell, forms part o f the deed of assignment under Schedule 3, the appellant could not escape the charge of duty and that the PoA is required to be c onsidered independently – On appeal,
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