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TMI Blog2016 (7) TMI 764X X X X Extracts X X X X X X X X Extracts X X X X ..... on qua the certificate of sickness issued by the Commissioner Industries on 29-1-2008 has been issued on 4-12-2012 by the General Manager, DIC. Thus, in considered opinion, the certificate dated 29-1-2008, in any event now holds good even on the literal reading of the notification dated 26-7-2003, as the rectification of 4-12-2012 would relate back to the original certificate of sickness dated 29-1- 2008. In the circumstances, the impugned judgments dated 10-10- 2013 and 21-8-2015 passed by the Tax Board are liable to be quashed and set aside. They are so. The matter is remanded to the Tax Board for deciding the revision petition afresh with reference to rectification dated 4-12-2012 issued by the General Manager, DIC relating to the cer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nit of HSGL, in possession of the secured creditors from them, for a consideration of ₹ 12 crores vide sale deed dated 25-6-2008. As the property purchased was a unit HSGL at the relevant time declared sick by the BIFR vide order dated 20-12-2005 and a certificate of sickness thereof was issued on 29- 1-2008 under the hand of the Commissioner Industries, the petitioner company claimed exemption from stamp duty, qua the transaction under sale deed dated 25-6-2008, in terms of the notification dated 26-7-2003. The exemption claimed was allowed and the sale deed dated 25-6-2008 registered without levy of stamp duty in view of the notification dated 26-7-2003. However, thereafter a show cause notice was issued to the petitioner on 4-3- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not in dispute that at the time of registration of the sale deed dated 25-6- 2008 qua the HSGL s unit, it was a sick company under the order dated 20-12-2005 passed by BIFR and a certificate of sickness issued in regard thereto by the Commissioner Industries on 29-1- 2008. It is submitted that the Commissioner Industries, is an authority superior to the General Manager, DIC and his certificate could not have been overlooked for grant of exemption from stamp duty under notification dated 26.07.2003. However by way of abundant caution, subsequent to judgment dated 19-10-2011 passed by the Collector (stamps), the petitioner applied for a rectification of the sickness certificate issued by the Commissioner Industries on 29-1-2008. Thereupon, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, DIC on 4-12-2012. Mr. Dheeraj Tripathi, counsel for respondent has supported the impugned judgments and submitted that as the sickness certificate dated 29-1-2008 was not issued by the General Manager, District Industries Center consequently the exemption notification dated 26-7-2003 did not attract to the sale deed dated 25-6-2008. The impugned judgments passed by the Collector (Stamps) and the Tax Board are thus just and proper. Further the rectification certificate dated 4-12-2012 was not placed on record by the company during pendency of the revision petition. The review petition filed by the company was not maintainable. Therefore there is no perversity in the impugned judgments. The company has only himself to blame for the situ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ior to the sale deed dated 25-6-2008. It is not in dispute that the Commissioner Industries is an authority superior to the General Manager, DIC in the same department, and I am of the considered view that such a certificate issued by the Commissioner Industries ought to have supplied the condition for exemption of stamp duty. However, in any event, subsequently a rectification qua the certificate of sickness issued by the Commissioner Industries on 29-1-2008 has been issued on 4-12-2012 by the General Manager, DIC. Thus, in my considered opinion, the certificate dated 29-1- 2008, in any event now holds good even on the literal reading of the notification dated 26-7-2003, as the rectification of 4-12-2012 would relate back to the original c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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