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6. Article 55 of the Indian Stamp Act reads as follows :--

55. Release, that is to day, any instrument (not being such a release as is provided for by Section 23-A or a release of benami right, whereby a person resources a claim upon another person or against any specified property.

The same duty as a Bottomery Bond (No. 16) for such amount or value as set forth in the release.

Article 61 of the Act reads as follows :-

61. Surrender of lease  

(a) When the duty which the lease is chargeable does not exceed thirty rupees;

8. Even assuming that Article 55 would be applicable, still then the stamp duty paid seems to be sufficient. A perusal of Article 55 of the Indian Stamp Act quoted above indicates that the stamp duty payable is same as a "Bottomery Bond (No. 15) for such amount or value as set forth is the release" Underlined portion makes it clear that the stamp value payable is as set forth in the deed of release and not on the market value.

9. As distinguished from the aforesaid language used in Article 55 one can refer to Article 23, where the stamp duty payable is on the market value of the property which is the subject-matter of the conveyance. Apart from the fact that deed of release cannot be equated with deed of conveyance, since Article 55 itself envisages that the amount payable is for the amount set forth in the deed, there is no justification in the first respondent to call upon the petitioner to pay the stamp duty on the market value.