Imposition of a Penalty of Ten Times under Section 40 of the Indian Stamp Act is Not Automatic and Cannot be Imposed: Supreme Court
In the case of Trustees of H.C Dhanda Trust v. State of Madhya Pradesh & Ors. The Full Bench of the Supreme Court held that the discretion exercised by the Collector to impose a penalty on evasion of stamp duty must be based on a rational and fair basis. Brief