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Showing contexts for: set forth value in Ravindra Babulal Jain And Anr vs The State Of Mah And Anr on 1 October, 2015Matching Fragments
21. In view of the law laid down as above by the Apex Court, the very foundation of the charge leveled against the applicants that the market value of the subject property was deliberately shown less by them with a view to earn wrongful gain gets uprooted.
Secondly, even if it is assumed that the market value of the property in question was shown less by the applicants, the registering officer i.e. the Sub Registrar, Aurangabad could have very well referred the instrument to the Collector for determination of the true market value of the said property under section 32 A(2) of the Stamp Act. Sub Registrar, Aurangabad admittedly did not adopt the said course and preferred to register the instrument by accepting the stamp duty payable on the market value as was shown of the property in question. The Sub Registrar, thus, impliedly accepted the value as set-forth in the instrument to be the true market value of the subject property.