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15.comap.14-2024 & ors.odt market value of the property in question.

10. Learned counsel placed reliance on the decision in Registrar of Assurances and Another vs. ASL Vyapar Private Ltd. and Another1 to contend that a sale of property through the Court process is the most transparent manner of obtaining the correct market value of the property and that in respect of such a sale no discretion is available to the adjudicating authority to ascertain whether the property is undervalued while adjudicating the stamp duty. Reliance is then placed on V. N. Devadoss vs. Chief Revenue Control Officer-cum-Inspector and Others2 to demonstrate that when the property is sold in the open market by inviting bids, there is no question of any intention to defraud the revenue nor any question of non-disclosure of the correct price. Reliance is then placed on the decisions of this Court in Trident Estate Private Limited and Another vs. Office of Joint District Registrar-Class-1 and Others 3 and Dr. Prince John Edavazhikal vs. Collector of Stamps and Joint District Registrar and Others4 which followed the aforesaid decisions of the Supreme Court while holding that 1 2022 SCC OnLine SC 1554 2 (2009) 7 SCC 438 3 2024 SCC OnLine Bom 3423 4 2024 SCC OnLine Bom 3872

27. We may only note that this Court in P. Laxmi Devi case has opined the purpose behind bringing into force Section 47A in the Andhra Pradesh State, i.e., in case of large scale under-valuation of the real value of property in the sale deed, the Government is defrauded of a proper revenue. It was to take care of the absence of any provision in the original Stamp Act empowering revenue authority to make an inquiry about the value of the conveyed property, that the Amendment was brought forth so that the revenue did not suffer. The judgment in V.N. Devadoss case albeit in respect of Amendment in Tamil Nadu, opined that it was not a routine procedure to be followed in respect of each and every document of conveyance presented for registration without any evidence to show a lack of bona fides of the parties. There has to be a willful under-valuation of the subject of transfer with fraudulent intention to evade payment of proper stamp duty.

32. The decision of this Court in V.N. Devadoss case can hardly be said to be per incuriam. No doubt a court monitored auction is a forced sale, but then it has a competitive element of a public auction to realize the best possible price. In many court cases, this is the process followed by the court to get the best obtainable price taking due precaution.

33. We are, thus, of the view that this reference is required to be answered by opining that in case of a public auction monitored by the court, the discretion would not be available to the Registering Authority under Section 47A of the Act.