32. Stamp where value of subject-matter is indeterminate. -
Where the amount or value of the subject-matter of any instrument, chargeable with ad valorem duty cannot be, or in the case of an instrument executed before the commencement of this Act, could not have been ascertained at the date of its execution or first execution, nothing will be claimable under such instrument more than the highest amount or value for which, if stated in an instrument of the same description, the stamp actually used, would at the date of such execution, have been sufficient:Provided that in the case of the lease of a mine, in which royalty, or a share of the produce is received as the rent, or part of rent, it shall be sufficient to have estimated such royalty or the value of such share, for the purposes of stamp duty -(a)when the lease has been granted by or on behalf of the Government, at such amount or value, as the Collector may, having regard to all the circumstances of the case, have estimated as likely to be payable by way of royalty or share to the Government under the lease;(b)when the lease has been granted by any other person, at twenty thousand rupees a year;and the whole amount of such royalty or share, whatever it may be, shall be claimable under such lease :Provided also that, where proceedings have been taken in respect of an instrument under Section 37 or 46, the amount certified by the Collector shall be deemed to be the stamp actually used at the date of execution.
