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3. It appears that the Audit Team of the Accountant General (II), Nagpur took an objection with regard to the valuation in the Agreement. The Audit Team determined the market value of TDR granted to Petitioner at Rs. 63,67,31,272/- and opined that the stamp duty @ 3% under Article 25(a) amounting to Rs.1,91,01,938/- was leviable. Based on the objection so raised by the Audit Team, the Chief Controlling Revenue Authority (CCRA), initiated proceedings under Section 53A of the Stamp Act. Petitioner was heard by the CCRA. By Order dated 30 September 2015, CCRA accepted Petitioner's contention that the instrument is not that of 'Exchange' but of 'Sale'. By accepting some of the calculations submitted by Petitioner, CCRA held that the correct market value was Rs.23,21,26,000/- and that the stamp duty leviable at the rate of 3% under Article 25(a) would be Rs. 69,63,780/-. CCRA therefore held that there was deficit stamp duty of Rs.41,80,365/-. CCRA accordingly directed Petitioner to pay deficit stamp duty of Rs.41,80,365/- within 30 days, failing which Neeta Sawant 4/16 WP-2312-2016-FC 20 February 2024.

5. I have heard Mr. Abhyankar, the learned counsel appearing for Petitioner. He would submit that as per the Neeta Sawant 5/16 WP-2312-2016-FC 20 February 2024.

Notifications issued by the State Government on 19 December 1997 and 4 March 2008, the concerned instrument was required to be executed on Stamp paper of Rs.100/- and that due to sheer mistake, Petitioner erroneously paid Stamp duty of Rs.27,83,415/-. He would rely upon the provisions of Section 3 of the Stamp Act under which an instrument executed by or on behalf of or in favour of Government is exempted from payment of any Stamp duty. He would submit that the Notifications dated 19 December 1997 and 4 March 2008 have been issued under the provisions of Section 9 of the Stamp Act, under which the State Government has power to reduce, remit or compound duties. That since the State Government has reduced the Stamp duty payable in respect of the instrument relating to Slum Rehabilitation to Rs.100/-, no Stamp Duty above Rs.100/- was payable on the Agreement and therefore the action initiated by the CCRA under Section 53A of the Stamp Act is completely misplaced. That the Petitioner is infact entitled to refund of the stamp duty earlier paid at the time of execution of the document (Rs.27,83,415/-), as well as Rs.41,80,365/- subsequently paid in respect of CCRA's order (total Rs.69,63,780/-).

the present petition. That by Agreement dated 15 May 2008, the SRA has granted TDR in the form of DRC to the Petitioner which can be monetised by it by sale in the open market or utilisation on another plot. That therefore the said Agreement cannot be treated as the one executed for allotment of tenements to slum dwellers. That the stamp duty has been reduced with a view to ensure that the slum dwellers do not have to spend money on payment of stamp duty for receiving rehabilitation tenements. That CCRA has passed the order after applying its mind. That CCRA has upheld Petitioner's objection that the instrument cannot be treated as the one for Exchange. That after considering Petitioner's objection, the CCRA has considered the agreement as the one for 'Sale of TDR' and not as a 'Deed of Exchange'. That such well reasoned order passed by the CCRA does not warrant any interference in exercise of jurisdiction by this Court under Article 227 of the Constitution of India. He would pray for dismissal of the petition.

21. The CCRA has passed a well reasoned Order dated 30 September 2015 after grant of due opportunity to Petitioner of hearing. The Audit Team had treated the instrument as a Deed of Exchange and had suggested the market value at Neeta Sawant 15/16 WP-2312-2016-FC 20 February 2024.

Rs.63,67,31,272/- and stamp duty leviable at Rs.1,63,18,523/-. The CCRA accepted Petitioner's objection that the instrument is not a Deed of Exchange. The CCRA held the same to be an Agreement for Sale of TDR and accordingly proceeded to determine the market value of TDR at Rs. 23,21,26,000/- and applied the provisions of Article 25(a) of the Stamp Act for levy of stamp duty at the rate of 3% of Rs.69,63,780/-. This is how the Petitioner was called upon to pay deficit stamp duty of Rs.41,80,365/- as it had already paid the stamp duty of Rs.27,83,415/-.