Supreme Court Approves Levy of Tenfold Penalty on Deficit Stamp Duty for Admitting Document in Evidence Under Karnataka Stamp Act

In a significant ruling, the Supreme Court of India has addressed the issue of deficit stamp duty and the corresponding penalty in the case of N.M. Theerthegowda VERSUS Y.M. Ashok Kumar and Others. This decision clarifies the applicability of the Stamp Act provisions concerning insufficiently stamped documents and the appropriate penalties. Case Background The appellant, N.M. Theerthegowda, filed a suit seeking specific performance of an agreement for sale dated 04.11.1996,…