Life Insurance Corporation Of India vs The State Of Rajasthan State Of ...

The Supreme Court upheld the authority of the State of Rajasthan to levy and collect stamp duty on insurance policies issued within the state, affirming the legislative competence under the Rajasthan Stamp Law (Adaptation) Act, 1952 and the Rajasthan Stamp Act, 1998. The Court dismissed the Life Insurance Corporation's appeal regarding the lack of jurisdiction, while setting aside certain findings of the High Court and granting partial relief to the appellant. The ruling clarified the applicability of stamp duty on insurance policies and the procedural requirements for compliance.