https://www.taxtmi.com/caselaws?id=760857 In a court-monitored public auction, the confirmed bid price constitutes the market value for stamp purposes, and the stamp authority cannot independently substitute its own valuation under the Maharashtra Stamp Act, 1958 and the Maharashtra Stamp (Determination of True Market Value of Property) Rules, 1995. Where the sale is conducted through a transparent court-supervised process with valuation, reserve price fixation, public bidding and confirmation of the highest bid, the registering or stamp authority has no power to revalue the property as if sitting in appeal over the court-approved sale. The enhanced stamp duty and penalty demand was therefore unsustainable, and the sale certificate remained effective on the auction consideration. en-us Wed, 23 Oct 2024 00:00:00 +0530 Mon, 28 Oct 2024 11:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760857 In a court-monitored public auction, the confirmed bid price constitutes the market value for stamp purposes, and the stamp authority cannot independently substitute its own valuation under the Maharashtra Stamp Act, 1958 and the Maharashtra Stamp (Determination of True Market Value of Property) Rules, 1995. Where the sale is conducted through a transparent court-supervised process with valuation, reserve price fixation, public bidding and confirmation of the highest bid, the registering or stamp authority has no power to revalue the property as if sitting in appeal over the court-approved sale. The enhanced stamp duty and penalty demand was therefore unsustainable, and the sale certificate remained effective on the auction consideration. Case-Laws Indian Laws Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760857