DUNCANS INDS LTD vs STATE OF UP

The Supreme Court addressed the validity of a Deed of Conveyance executed by ICI India Ltd. in favor of Chand Chhap Fertilizer and Chemicals Ltd. under the Stamp Act. The Court upheld the Collector's authority under Section 47-A(II) of the Stamp Act to assess proper valuation and impose stamp duty, confirming the revised duty of Rs.36,68,08,887.50 as determined by the Revisional Authority. The Court emphasized the importance of compliance with Section 27 of the Stamp Act in the registration process, ultimately dismissing the appeal against the High Court's order.