1.0Law Times Journalhttps://lawtimesjournal.inDevika Paliwalhttps://lawtimesjournal.in/author/devika-paliwal/SC: ‘Ten Times Penalty’ Prescribed For Deficit Stamp Duty Cannot Be Mechanically Imposedrich600338<blockquote class="wp-embedded-content" data-secret="uFFaUqAFWY"><a href="https://lawtimesjournal.in/sc-ten-times-penalty-prescribed-for-deficit-stamp-duty-cannot-be-mechanically-imposed/">SC: ‘Ten Times Penalty’ Prescribed For Deficit Stamp Duty Cannot Be Mechanically Imposed</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://lawtimesjournal.in/sc-ten-times-penalty-prescribed-for-deficit-stamp-duty-cannot-be-mechanically-imposed/embed/#?secret=uFFaUqAFWY" width="600" height="338" title="“SC: ‘Ten Times Penalty’ Prescribed For Deficit Stamp Duty Cannot Be Mechanically Imposed” — Law Times Journal" data-secret="uFFaUqAFWY" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript">
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https://lawtimesjournal.in/wp-content/uploads/2020/02/supreme-court-2.png1200628The SC has observed that the penalty of ten times prescribed under section 40(1) (b) of the Indian Stamp Act cannot be mechanically imposed.A bench comprising of Justices Ashok Bhushan MR Shah and R. Subhash Reddy observed that the reason such as fraud or deceit in order to deprive the undue enrichment are relevant factors to arrive at a decision as to what should be the extent of penalty under section 40(1) (b).