arrangement can be registered at the value below the market value. Therefore, even assuming that sale deed and gift deed were by way of family ... such deeds cannot represent the fair market value. Rather a legal presumption arises that value stated in such deeds represent the correct market value
which are gift deeds Ex. A-2 is certified copy of gift settlement deed dated 16th May 1985 executed by one B.M.L. Diwakara ... execution of gift deeds by putting nominal values. Sometimes for obtaining higher loans also the gift deeds will be created showing higher value. Since
cancellation of other documents such as a deed
of settlement, a gift deed or a trust deed. In the latter category
of cases it would ... estimation of value of love and affection
or null value, but, on the value of the property covered by the
gift deed. Then the question
value of the property. If the value of the property gifted is
not stated in the gift deed, then Court fee has to be paid ... Court
fee on the market value of the gifted property as on the
date of execution of the gift deed. The market value
declaration that the gift deed is
null and void, and particularly since he is not a party to the said gift deed,
there ... under a registered gift deed, any effective relief can be granted to
the Plaintiff without his seeking cancellation of such gift deed. In fact
executed and not the value of the document or value mentioned in the document. If a gift deed is executed out of love and affection ... estimation of value of love and affection or null value, but, on the value of the property covered by the gift deed. Then the question
property referred to in the gift-deed in question for the purposes of levy of stamp duty.
A Gift-deed is chargeable to stamp duty ... term "market value".
Accordingly, when market value is not at all relevant for levying stamp duty on a gift deed the provisions
executant of the gift deed, Govindram had grossly undervalued the property covered by the gift deed; that the value of this property covered ... dispute that the document executed was the gift deed. The gift deed was at the material time chargeable with the duty of the amount indicated
representing the value of five immovable properties gifted by the deceased to his five sons by five Gift Deeds, dated the 25th September ... five Gift Deeds, all dated September 25, 1951: and by each Gift Deed he gifted different immoveable properties mentioned in the relevant Gift Deed
take a different
view. Further, the fact that in the gift deed value of the
asset was mentioned ... case that value was relevant only for purpose .of
determination of stamp duty payable on the gift deed and
not to determine capital gains. (Paras
