Recovery of Unlevied or Short-Levied Stamp Duty Must Be Within Five Years of Document Registration: Karnataka High Court

The Karnataka High Court has reiterated that proceedings under Section 46A of the Karnataka Stamps Act, 1957 for the recovery of stamp duty that was either not levied or short levied cannot be initiated beyond five years from the date the stamp duty fell due. This ruling was made while allowing a petition filed by B C Prasad who challenged the order of the Karnataka Appellate Tribunal (KAT), which upheld…