(1)When the Collector impounds any instrument under section 33, or receives any instrument sent to him under section 38, sub-section (2), not being an instrument chargeable [with a duty not exceeding ten naye paise] [ Substituted by the Indian Stamps (Amendment) Act, 1958, (19 of 1958) section 6.] only or a bill of exchange or promissory note, or acknowledgement or deliver order, he shall adopt the following procedure :(a)if he is of opinion that such instrument is duty stamped or is not chargeable with duty, he shall certify by endorsement thereon that it is duly stamped, or that it is not so chargeable, as the case may be;(b)if he is of opinion that such instrument is chargeable with duty and is not duly stamped, he shall require that payment of the proper duty or the amount required to make up the same, together with a penalty of five rupees; or if he thinks fit an amount not exceeding ten times the amount of the proper duty or of the deficient portion thereof, whether such amount exceeds or falls short of five rupees:Provided that, when such instrument has been impounded only because it has been written in contravention of section 13 or section 14, the Collector may, if he thinks fit, remit the whole penalty prescribed by this section.
