27. Stamp where value of subject-matter is indeterminate.
- Where the amount of value or 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 shall 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, and the instrument shall be deemed to be insufficiently stamped as respects the excess amount and the provisions of section 34 shall accordingly apply in relation to the admission of the instrument in evidence:Provided that, for the purpose of application to section 34 to such an instrument, it shall be sufficient if the deficiency in the duty is paid, and thereupon no penalty shall be levied:] [These words were substituted for the words 'have been sufficient' by Maharashtra 27 of 1985, Section 14(a) (w.e.f. 10.12.1985).][Provided further that] [These words were substituted for the words 'provided that' by Maharashtra 27 of 1985, Section 14(b) (w.e.f. 10.12.1985).] 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 the rent, it shall be sufficient to have estimated such royalty or the value of such share, for the purpose 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, or(b)when the lease has been granted by any other person, at [fifty thousand rupees] [Substituted for the words 'twenty-thousand rupees' by Maharashtra 17 of 1993, Section 33 (w.e.f. 1.5.1993).] 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 31 or 40, the amount certified by the Collector shall be deemed to be the stamp actually used at the date of execution.
