Ramesh Mishrimal Jain vs Avinash Vishwanath Patne 2025 INSC 213 - Bombay Stamp Act

Bombay Stamp Act - Article 25 of Schedule 1 - The stamp duty is on the instrument and not on the transaction. Furthermore, it is immaterial, whether the possession of the property has been handed over at the time of execution of the agreement to sell or whether it has been agreed to transfer the possession (Para 9) - When the agreement to sell includes a clause stating that physical possession had already been handed over to the appellant, regardless of the basis of such possession. This satisfies the requirement to treat the instrument as a ‘conveyance’ within the meaning of Explanation I to Article 25 of Schedule I of Bombay Stamp Act, with only the formality of executing the sale deed remaining. (Para 11)