M/S. Paharpur Cooling Towers Ltd., , ... vs Dcit, Central Circle - 2(1), Kolkata , ... on 28
believe that the market value of the property
which is the subject matter of conveyance has not been truely set forth in the
instrument ... that as it may. Merely because the purchaser has not set forth true
market value in the conveyance, same cannot be fitted against the claimant
duty
with which it is chargeable, are fully and truly set forth
therein, and may refuse to proceed upon such
application until such true copy ... been truly set forth therein, he shall, for the purpose of
assessing the stamp duty, determine the true market
value of such property, as laid
value of the consideration of such conveyance as set forth therein or the market value of the immovable property which is the subject of such ... movable property where the amount or value of the consideration of such conveyance as set forth therein does not exceed
believe that the market value of the
property which is the subject matter of conveyance has not been truely set forth in
the instrument ... that as it may. Merely because the purchaser has not set forth true
market value in the conveyance, same cannot be fitted against the claimant
performance of his functions, has reason to
believe that the market value of the immovable
property which is the subject matter of such
instrument ... been truly set-forth therein, he shall, for the
purpose of assessing the stamp duty, determine
the true market value of such property
truly set forth in
the instrument, he may after registering such instrument, refer the
same to the Collector for determination of the market value ... reason to
believe that the market value of the property has not been truly set
forth in the instrument, he may determine the market value
have reason to believe that market value of the property in question had not been properly set forth in the instrument and once instrument ... with regard to determination of the market value of the property as set forth in the instrument held as under:-
"19. Now insofar
that the Collector had reason to believe, that the value had not been properly set forth in the instrument as per market value ... cogent reason for believing that the value mentioned in the instrument is not truly set forth and such reason should be based on material
another Versus Commissioner6, explained the expression "market value":
"The 'market value' means what a willing purchaser would ... that the Collector had reason to believe, that the value had not been properly set forth in the instrument as per market value