with fixed amount of stamp duty according to their classification of value of up to rupees ten lacs, ten to fifty lacs and above fifty ... percent subject to maximum of rupees 15000/- on the amount or value set forth in such contract. Statement of Objects and Reasons
date of execution. 27. Facts affecting duty to be set forth in instrument.
(1) The consideration (if any) and all other facts and circumstances affecting ... with an ad valorem duty on the value of the property, and not on the value set forth in the instrument, the instrument shall fully
market value of any property, which is the subject of any instrument on which duty is chargeable on market value as set forth in such ... intentional omission or lapse on his part in not setting forth the correct market value of such property.] [Substituted by Punjab
execution and includes a sub-contract,-
(a) where the amount or value set forth in Five hundred rupees
such contract does not exceed rupees
District Collector, Faridabad the
respondent did not truly set-forth the true value in the
instrument, therefore, order under section 47-A was passed
against ... intention
clearly by emphasizing the detail i.e. that value as set forth in
the instrument. Or else, the Legislature would have used the
terminology
consideration or, as the case may be, the market value as set forth in the instrument and the market value as determined by the Collector ... market value of such property or, as the case may be, market value of such property has not been truly and fully set forth
instrument on which
duty is chargeable on the market value of
the property as set forth in such
instrument is less than even the minimum ... section (3) the
Collector finds the market value of the
property-
a) truly set forth and the document duly
stamped, he shall certify by
endorsement
assist them to ascertain prima facie whether the market value has been truly set forth in the instruments. The entries made therein regarding the value ... satisfied that the market value or the consideration has been truly set forth in the instrument, subject to his making reference under sub-section
set forth therein, which works out on a slab basis. Section 27 of the principal Act requires facts affecting duty to be set forth ... find out, prima facie, whether the market value set out in the instruments has been set forth correctly. The guidelines were not intended
property conveyed is land, buildings and machineries.
(ii) The value set forth in the instrument having been grossly under-valued, the second respondent kept ... find out prima facie, whether the market value set out in the instrument has been set forth correctly."
In view of the said decisions
