S.N. Mathur vs Board Of Revenue/C.C.R.A. & Ors

The Supreme Court held that the deed of trust executed by the appellant and his brothers was correctly classified as a 'settlement' under Section 2(24) of the Indian Stamp Act, 1899, necessitating stamp duty under Article 58 instead of Article 64. The court affirmed the adjudicating authority's decision to impose a deficit stamp duty of Rs. 10,225 and an equal penalty, rejecting the appellant's claim that the instrument was merely a deed of trust. The appeal was dismissed, upholding the lower authorities' interpretations.