stamp
chandra1
(Querist) 01 October 2009
This query is : Resolved
a property was allotted by Development authority to "A" on the installment basis the sale consideration of the property was Rs.4Lacs and due to default in making installment payment, the consideration as per rule of development authority was shown in the sale deed Rs 9 lacs(including the interest of Rs.5Lacs) at the time of execution of sale deed and the stamp duty has been paid accordingly. thereafter few days "A" sold the property to "B" in a consideration of Rs. 4lacs to his brother and as per provision of the stamp rules the stamp duty has been paid on the market value evaluated on the basis of circle rate. The subsequent deed has got registered in the appropriate office. After some days The subsequent sale deed has been referred to the collector under 47A of the Indian Stamp Act, 1899 by the registering authority merely on the ground that the consideration in earlier sale deed executed by Development authority was shown Rs. 9Lacs(actual sale consideration of the Property Rs.4 Lacs + interest Rs. 5Lacs) which was higher than the consideration shown in the subsequent sale deed. It may pointed out The market value of the property as per effective circle rates come to Rs. 6 Lacs and the stamp duty has been paid accordingly. In this way the subsequent property is not under valued. Now as we know that the chargeability of the stamp duty impose on the instrument and the facts set forth in the instrument, the object of the section 47 A is only to neutralize the effect, the under valuation of the property with a view to realize proper stamp duty. It is not meant to be applied in a matter of fact fashion in haphazard way. Now question are a) whether the reference made by the registering authority is valid and how? b) the stamp duty may be realized on the basis of the consideration(actual sale consideration of the Property Rs.4 Lacs + interest Rs. 5Lacs) made in the previous document. If any citation in this regard is available kindly send us. Thanks.
s.subramanian
(Expert) 31 October 2010
you can file a writ challenging the same.
