Whether a promissory note, which is not adequately stamped, is admitted in evidence?
The Indian stamp act has spelt out what are the documents which are admitted as evidence, though insufficiently stamped. The Section 35 of this act deals with such situations. There are certain document if insufficiently stamped, is not admitted as evidence and also there is another category of insufficiently stamped document which are admitted as evidence on payment of penalty.
The following documents if not sufficiently stamped are not at all admitted as evidence, even on payment of penalty
1. Promissory note.
2. Bill of exchange.
3. Document which required to be stamped with 10 paisa or less.
Some states have amended this minimum stipulation of 10 paisa; in Andhra Pradesh it is 20 paisa and in Tamilnadu it is 25 paisa. All other documents though insufficiently stamped are admitted as evidence on payment of penalty.