66A. [ Procedure to be followed by the Collector in cases of under valued instruments. [Substituted by Notification dated 24-4-1991 (25-4-1991).]
- On receipt of an instrument under sub section (1) or a reference or action under sub-section (3) of Section 47-A of the Act, the Collector shall issue a notice to the person liable to pay the duty and to the claimant asking them to produce the original instrument and to show cause within 30 days from the service as to why he should not proceed to determine the correct market value of the property and realise the deficient duty together with penalty under Section 47-A of the Act. After expiry of 30 days, the Collector shall enquire into the matter summarily. Where the original instrument is not produced within 30 days, after proper notice, the Collector may impound its copy. During the course of summary enquiry, the Collector may look into corresponding rates as recommended by the District Level Committee, the rates approved by the registration and stamp site inspection by the rates as per Index II and also the report, if any, of the site inspection by the Registering Officer and any other record deemed relevant. At the conclusion of the enquiry, the Collector shall make an order recording his findings together with the reasons therefor. The summary enquiry shall be completed within a period of 3 months.]
