Stamp Duty Must Be Assessed on Date of Execution, Excess Demand Quashed: Madhya Pradesh High Court

The Madhya Pradesh High Court in the case of M/S Jai Prakash Associated Pvt Ltd. v State of MP MP-6936-2019 delivered a significant judgment clarifying the law relating to assessment of stamp duty on lease deeds. The Division Bench comprising Justice Vivek Rusia and Justice Pradeep Mittal held that stamp duty must be determined with reference to the date of execution of the document and not on the date when…