47. Power of payer to stamp bills, promissory notes and cheques received by him unstamped.
- When any bill of exchange, [or promissory note] [ Substituted by Indian Stamp (Amendment) Act, 1958 (19 of 1958), section 7.] chargeable with a duty of exceeding ten naye paise is presented for payment unstamped, the person to whom it is so represented may affix thereto the necessary adhesive stamp, and, upon cancelling the same in manner hereinbefore provided, may pay the sum payable upon such bill, or note and may charge the duty against the person who ought to have paid the same, or deduct it from the sum payable as aforesaid, and such bill [or note] [Substituted by Indian Stamp (Amendment) Act, 1958 (19 of 1958), Section 7.] shall, so far as respects the duty, be deemed good and valid:Provided that nothing herein contained shall relieve any person from any penalty or proceeding to which he may be liable in relation to such bill or note.
