In its judgment dated 11th May, 2012, in the case of State of M.P. Vs. Rakesh Kohli & Anr the Supreme Court has held that the state can fix higher stamp duty on property transactions done through power of attorney vested in an outsider, as against such power executed through one's blood relatives like father, mother and wife.
A bench of justices R M Lodha and H L Gokhale said such classification cannot be termed as unconstitutional as the government can adopt differential stamp duties to check evasion and sale transactions resorted through and for extraneous considerations.
The bench upheld an appeal filed by the Madhya Pradesh government challenging the high court's decision to quash Clause(d), Article 45 of Schedule 1-A of the Indian Stamp Act, 1899 which was brought in by the Indian Stamp (Madhya Pradesh Amendment) Act, 2002 Act) as unconstitutional being violative of Article 14 (equality clause) of the Constitution of India.
Refund is an integral part of Goods and Service Tax law since it is the government reimbursement of taxes to a taxpayer. Thus, the taxpayer as well as the refund authorities have to be fully acquai More
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