STATE OF UTTARANCHAL vs M/S. KHURANA BROTHERS

The Supreme Court upheld the High Court's decision that the respondents were not liable to pay stamp duty on the contract of sale for crude resin, emphasizing that the transaction did not constitute a sale under the Stamp Act. The Court clarified that the nature of the contract, being a public auction for government property, did not attract stamp duty as per the relevant provisions. The judgment reinforced the interpretation of 'sale' under the applicable statutes, leading to the dismissal of the appeals by the State of Uttaranchal.