SOMATYA ORGANICS (INDIA) LTD., ETC. vs BOARD OF REVENUE, U.P., ETC.

The Supreme Court held that under the Indian Stamp Act, 1899, specifically Sections 4 and 24, the consideration for the sale of property must include all liabilities, both actual and contingent. The Court ruled that the sale deed executed by Godavari Sugar Mills was insufficiently stamped as it failed to account for the contingent liabilities associated with the equitable mortgage, leading to a deficiency in stamp duty. Consequently, the Court upheld the decision of the Sub-Registrar and the Collector regarding the impounding of the sale deed and the supplementary deeds of declaration.