KAMLESH P. OZA vs STATE OF MAHARASHTRA

The Supreme Court dismissed the Writ Petition challenging the levy of stamp duty on the transfer of shares in a Co-operative Housing Society, affirming that such transfers are considered conveyances under the Bombay Stamp Act, 1958. The Court held that the State Legislature has the competence to levy stamp duty on these transactions. This decision aligns with the findings in Civil Appeal No. 3707 of 1990, which was also dismissed today, thereby establishing the legal principle that the transfer of shares in a co-operative society is subject to stamp duty.