Is there Stamp Duty for transfers within family?

In our co-operative housing society one flat is owned by 3 brothers. They inherited the flat from their parents. The eldest brother has been admitted as member and the other 2 brothers as Associate Members. Now the first 2 brothers have executed a release deed in favour of the youngest brother releasing their respective shares for considerations of Rs.12 lakhs each. Total:24 lakhs.

The youngest brother named Giridhar produced the Release Deed to the Secretary and requested him to transfer the flat and share certificates to his name. The Secretary told him that it was a case of transfer and hence liable to stamp duty.

Mr. Giridhar in support of his claim that he is not liable to pay stamp duty produced 2 Bombay High Court judgments. The 2 judgments are attached herewith.

In both the cases the release was within the family and one or more family members have renounced his/her share in favour of the other family member/s without any consideration. The judgement specifically contains the phrase "without consideration". The second judgement relies on the first judgement.

I am of the opinion as Giridhar is paying consideration to his brothers to get their shares, the cited judgements will not apply to his case as regards liability to pay stamp duty.

I wish to know the opinion of the learned members of the forum and also whether they know any case similar to that of Giridhar.

MPS Ramani