(3)The Deputy Commissioner may, suo motu within two years from the date of registration of [any instrument specified in sub-section (1)] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003] 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 the market value of the property which is the [subject matter of any instrument specified in sub-section (1) and the duty payable thereon] [Substituted by Act 8 of 2003 w.e.f. 1.4.2003] and if after such examination he has reason to believe that the market value of such property has not been truly set forth in the instrument, he may determine by order the market value of such property and the duty payable thereon in accordance with the procedure provided for in sub-section (2). The difference, if any, in the amount of duty, shall be payable by the person liable to pay the duty [with interest at twelve percent per annum if he does not pay within ninety days from the date of order of the Deputy Commissioner] [Inserted by Act 7 of 2006 w.e.f. 1.4.2006]:Provided that nothing in this sub-section shall apply to any instrument registered before the commencement of the Karnataka Stamp (Amendment) Act, 1975[Provided further that the payment of interest is not applicable to instruments executed prior to 31st day of March 2006.] [Inserted by Act 7 of 2006 w.e.f. 1.4.2006].
