45B. [ Instruments under valued how to be dealt with. [Inserted by Act 14 of 1988.]
(1)If the Registering Officer, while registering any instrument transfer ring any property, has reason to believe that the value of the property or the consideration, as the case may be, has not been truly set forth in the instrument, he may, after registering such instrument, refer the same to the Collector for determination of the value or consideration, as the case may be, and the proper duty payable thereon.(2)On receipt of a reference under sub-section (1), the Collector shall, after giving the parties a reasonable opportunity of being heard and after holding an enquiry in such manner as may be prescribed by rules made under this Act, by order, determine the value of the property or the consideration and the duty aforesaid; and the deficient amount of duty, if any, shall be payable by the person liable to pay the duty and, on the payment of such duty, the Collector shall endorse a certificate of such payment on the instrument under his seal and signature.(3)The Collector may, suo motu, within J(two years) from the date of registration of any instrument not already referred to him under sub section (1), call for and examine the instrument for the purpose of satisfying himself as to the correctness of its value or consideration, as the case may be, and the duty payable thereon and if after such examination he has reason to believe that the value or consideration has not been truly set forth in the instrument, he may determine the value or consideration and the duty aforesaid, in accordance with the procedure provided for in sub-section (2), and the deficient amount of duty, if any, shall be payable by the person liable to pay the duty and, on the payment of such duty, the Collector shall endorse a certificate of such payment on the instrument under his seal and signature.(3A)[x x x x](4)Any person aggrieved by an order of the Collector under sub-section (2) or subsection (3) may appeal to the District Court within whose jurisdiction the property transferred is situate.(5)An appeal under sub-section (4) shall be filed within thirty days of the .date of the order sought to be appealed against.(6)The District Court shall hear and dispose of the appeal in such manner as may be prescribed by rules made under this Act.]
