Revision Petition on Gift Settlement Deed P26/2015
The Chief Controlling Revenue Authority and Inspector General of Registration, Chennai, issued proceedings D.Dis.No.40076/P1/2021 dated 12 October 2022 concerning a revision petition against stamp duty and penalty imposed on a father to son gift settlement deed presented at the Sub Registrar Office, Kolathur. The proceedings conclude that unstamped release documents from other partners could not prove that the father had become the sole owner of the partnership property, but the supplied text does not include the final decision on the revision petition.
What the proceedings cover
Proceedings D.Dis.No.40076/P1/2021 dated 12 October 2022 were issued by the Chief Controlling Revenue Authority and Inspector General of Registration, Chennai. They examine a revision petition filed by Mr. R.G. Nilesh Parekh against the District Registrar, Pudukottai decision concerning pending document P26/2015 at the Sub Registrar Office, Kolathur.
The document under review is a Gift Settlement Deed (Father To Son), executed on 28 May 2015 by Mr. K. Ratan Chand Jain in favour of his son, Mr. R.G. Neelesh Parekh.
Property value and stamp duty dispute
The deed stated the following values:
- Immovable property, Rs.3,15,01,250.
- Movable property, Rs.72,10,515.
- Stamp duty borne by the deed, Rs.25,000.
The District Registrar classified the deed as a settlement in favour of a person who is not a family member under Article 58(a)(ii). The District Registrar directed payment of deficit stamp duty of Rs.25,40,621 and a penalty of Rs.379.
Why the deed was questioned
The property had originally been acquired in the name of the partnership firm Jain Paper Products, later renamed M/s Packs-Field. The father claimed that he had become the sole owner because the other partners had retired and released their rights over the property.
The registering officer impounded the settlement deed and referred it to the District Registrar, Pudukottai. The District Registrar did not accept the claimed releases because the release documents were not duly stamped.
Findings recorded in the proceedings
The Chief Controlling Revenue Authority and Inspector General of Registration recorded these conclusions:
- The declaration deed recording the other partners' release of rights was not duly stamped.
- Under section 35 of the Indian Stamp Act, 1899, that deed could not be admitted as evidence.
- Decisions stating that a partnership release deed need not be compulsorily registered did not establish that it need not be stamped.
- Stamp requirements and registration requirements were treated as separate issues.
- The Madras High Court decision relied on by the petitioner in D.B. Prakashchand Jain and R. Ramesh had been set aside by a Division Bench judgment dated 16 September 2021.
The supplied extract ends during the authority's discussion and does not state the final result of the revision petition.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Was the document treated as a normal father to son settlement?
No. The District Registrar classified it as a settlement in favour of a person who is not a family member because the property belonged to a partnership firm and the claimed releases by the other partners were not accepted as evidence.
How much deficit stamp duty and penalty were demanded?
The District Registrar directed payment of Rs.25,40,621 as deficit stamp duty and Rs.379 as penalty.
Why were the other partners' release documents rejected?
The Chief Controlling Revenue Authority and Inspector General of Registration found that the release declaration was not duly stamped and therefore could not be admitted as evidence under section 35 of the Indian Stamp Act, 1899.
Does the supplied document show whether the revision petition succeeded?
No. The supplied text ends during the discussion of the authority's findings and does not contain the final decision.
