Cancellation of Development Agreement: Bombay HC directs refund of withheld Stamp Duty on Limitation Grounds

The Bombay High Court has directed the refund of withheld stamp duty in a case involving the cancellation of a development agreement. The court found that the authorities had withheld the refund beyond the limitation period, thereby violating legal provisions. The decision emphasizes the need for timely action in refund claims, and the court ruled in favor of the petitioner, instructing the authorities to return the stamp duty. This ruling is a reminder of the importance of adhering to limitation statutes and reinforces legal accountability in property-related transactions.