S. JAYASWAL vs STATE OF M.P.

The Supreme Court upheld the High Court's ruling that the right to catch fish in a tank is a lease, thus making it subject to registration under Section 17 of the Indian Registration Act and liable for stamp duty under the Indian Stamp Act. The Court clarified that leases exceeding one year must be registered, as established in The Bihar Eastern Gangetic Fishermen Cooperative Society Ltd. vs. Sipahi Singh. The appellants' argument that the right constituted a mere license was rejected, affirming the necessity of a registered instrument for such leases.