https://www.taxtmi.com/caselaws?id=181881 A circle rate issued under Rule 340-A of the U.P. Stamp Rules is only a prima facie administrative guideline for assessing whether declared value reflects market value, and it does not conclude the inquiry under Section 47-A of the Stamp Act. The requirement to furnish the statement biennially means once in two years, but it does not prevent the Collector, on relevant material showing a rising land-price trend, from indicating a different rate for the succeeding year within the same statement. On that basis, the enhanced rate was not beyond power or arbitrary, and the circular was valid. en-us Tue, 11 May 1999 00:00:00 +0530 Thu, 23 Jun 2016 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181881 A circle rate issued under Rule 340-A of the U.P. Stamp Rules is only a prima facie administrative guideline for assessing whether declared value reflects market value, and it does not conclude the inquiry under Section 47-A of the Stamp Act. The requirement to furnish the statement biennially means once in two years, but it does not prevent the Collector, on relevant material showing a rising land-price trend, from indicating a different rate for the succeeding year within the same statement. On that basis, the enhanced rate was not beyond power or arbitrary, and the circular was valid. Case-Laws Indian Laws Tue, 11 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181881