Chandigarh, Aug. 6 -- The Punjab and Haryana high court has said that the stamp duty must be determined as per the market rate prevailing at the time of execution of the sale deed and not on the date on which an agreement to sell was entered into.

The high court bench of justice Kuldeep Tiwari dismissed a petition filed by a Jalandhar resident challenging the April 9, 2019, decision of the divisional commissioner, Jalandhar, over calculations of stamp duty.

The petitioner had argued that the levy should have been assessed based on the prevailing market rate on the date of execution of the agreement to sell, and not the sale deed. Further, it was argued that the shops in question were situated in a multi-storied building, but the sub-reg...