Stamp Act, 1899 - ss. 49(d)(2) and 50 - Property in question (which belonged to the company under liquidation) taken over by a Committee constituted by Supreme Court Auction sale of the property by the Committee - Sale confirmed in favour of the highest bidders/applicants - The case transferred by Supreme Court to High Court for further action -As per the direction of High Court bidders/applicants deposited the stamp papers with the Committee for execution of sale deed - Sale deeds though executed, possession of the property could not be handed-over to the bidders - The Committee directed by High Court to refund the amount deposited by the bidders - Direction challenged by the Committee - Supreme Court confirmed the direction of High Court to refund the entire amount deposited towards sale consideration and gave liberty to the applicants to approach the State Government for refund of stamp duty-Applicants' application for refund of stamp duty rejected by the competent authority on the ground of limitation - Present applications challenging the order denying refund of stamp duty- Held: The claim for refund of stamp duty cannot be said to be time barred because the sale transaction being court monitored  transaction, the party could not have taken any steps regarding the claim prior to permission of the court - Thus the right to claim the refund accrued only after the order of Supreme Court - On the contract of sale having become void as a result of its cancellation by Supreme Court, in the light of the principle contained in s. 65 of the Contract Act, the applicants are entitled to restoration of all such benefits from the State which it took from the contract of sale- On the basis of principle of equity, that a person cannot be penalized for no fault of his and the act of the court would cause no prejudice to any of his rights, also the bona fide claim for refund cannot be denied- Even if the claim was time-barred, the application for refund, could have been entertained by the State u/s. 49(d)(2) r/w. s. 50(3)- Therefore, the applicants are entitled to refund of the entire stamp duty- Limitation - Equity- Contract Act, 1872 - s. 65. Limitation - Expiry of period of limitation - Effect of - Held: Expiry of limitation period may bar the remedy, but not the right. Equity - Principles of equity that a person cannot be penalized for no fault of his and the act of the court would cause no prejudice to any of his rights - Applicability of - Discussed. Interpretation of Statutes - Interpretation which F advances the cause of justice and is based on the principle of equity, should be preferred. Maxim - 'Actus curiae neminem gravabit'-Applicability of - Discussed.