Bombay High Court
Eknath S. Gownde vs Jaganath S. Gownde And Anr. on 3 March, 1885
Equivalent citations: (1885)ILR 9BOM417
JUDGMENT W. Welderburn, J.
1. In this case the instrument sets forth (1) that Jagannath and Somnath relinquish their right to certain property in favour of their brother Eknath; (2) that Eknath is to discharge certain debts; and (3) that he is to pay an annuity to Jagannath and Somnath. The point for determination is whether stamp duty is chargeable in respect of stipulations (2) and (3)? The document is executed by Jagannath and Somnath, but not by Eknath. The provisions, therefore, purporting to be in favour of Jagannath and Somnath, are a mere recital of the consideration moving from Eknath., No interest in their favour is created by the document, which, therefore, so far as stipulations (2) and (3) are concerned, cannot be regarded as an instrument chargeable with stamp duty. We are, therefore, of opinion that it should be stamped as a release only.