47A. [ Instruments undervalued how to be dealt with. - (1) If the registering officer appointed under section 6 of the Registration Act, Samvat 1977, while registering any instrument, on which stamp duty is chargeable on the market value of the subject matter property, finds that the market value guidelines referred to in section 27-A, he shall, before registering such instrument refer the same to the Collector for determination of market value of such property and the proper duty payable thereon.
(2)Where the market value as set forth in the instrument is not less than the market value guidelines referred to in section 27-A but the Registering Officer has reasons to believe that the market value has not been truly set forth in the instrument, he shall register such instrument and thereafter refer the same to the Collector for determination of market value of such property and proper duty payable thereon.(4)The Collector may, either Suo motu or on receipt of information from any source, call for and examine any instrument, not already referred to him under sub-section (1) or sub-section (2), for the purpose of satisfying himself as to the correctness of the market value of the property, which is the subject matter of any such instrument and the duty payable thereon 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 the market value of such property has not been truly set forth in the instrument, he may determine the market value of such property and the duty as aforesaid in accordance with the procedure provided for in sub-section (3) and the difference, if any, in the amount of duty, shall be payable by the person liable to pay the duty.(5)For the purpose of enquiry under this section, the Collector shall have the power to summon and enforce the attendance of witnesses, including the parties to the instrument or any of them and to compel the production of documents by the same means, and so far as may be in the same manner, as is provided in the case of Civil Court under the Code of Civil Procedure, Samvat 1977.(6)Any person aggrieved by an order of the Collector under sub-section (3) or sub-section (4), may in the prescribed manner appeal against such order to such appellate authority as may be prescribed.(7)The appeal shall be filed within thirty days from the date of the communication of the order against which the appeal is filed, along with a certified copy of the order to which objection is made and shall be presented and verified in such manner as may be prescribed:Provided that in computing the period aforesaid, the time requisite for obtaining a copy of the order to which objection is made and shall be presented and verified in such manner as may be prescribed:(8)The appellate authority shall follow the procedure as may be prescribed:Provided that no order shall be passed by the without affording opportunity of being heard to the appellant.(9)The order passed in the appeal or where no appeal is preferred, the order passed by the Collector under sub-section (3) or sub-section (4) shall be final and shall not be called into question in any civil court or before any' other authority whatsoever.] [Inserted by Act No. XII of 2011, dated 25th April, 2011.]
