Supreme Court
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By Dr Sanjay Chaturvedi, Editor.

In the matter of Registrar of Assurance & Anr Vs ASL Vyapar Pvt ltd & Anr (Supreme Court), Hon’ble Supreme Court on 10th Nov 2022 said that Section 47A of the Act cannot be said to have any application to a public auction carried out through court process/receiver as that is the most transparent manner of obtaining the correct market value of the property, also noted that undervaluation is not uncommon as payments are made through different method.

In the current matter, there were tenants in the properties interested in connecting matters. Also the Official liquidator valued the properties under public auction. A property purchased in public auction have more transparent process then any other mode of selling.

The Stamp Duty is imposed on instrument and not on transaction. Hence the landmark judgement shall have very wide impact on stamp duty determination on auction properties in real estate transaction process.



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