1995 (11) TMI 450

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....n C.A. Nos.5337-41 of 1990 are sufficient for disposal of all these appeals. The respondents had entered into an agreement of sale on March 4, 1989, to purchase from the vendors, Virender Singh and Rupinder Singh, a portion of house (Kothi No. 519) situated in Model Town, Jallandhar, of an extent of 20 marlas for a consideration valued at Rs. 9,700/- per marla and they appear to have paid as earnes money of Rs. 95,000/-. The sale deed was required to be executed and registered before November 30, 1989. Few days prior to the aforesaid date the instrument appears to have been valued at Rs. 50,000/- and stamp duty was paid and presented for the same. The Sub-Registrar, Jallandhar, opined that prevailing market value was not less than Rs. 15....

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...., determine the value or consideration and the duty as aforesaid and the deficient amount of duty, if any, shall be payable by the person liable to pay the duty. (3) The Collector may suo motu, or on receipt of reference from the Inspector General of Registration or the Registrar of a district, appointed under the Registration Act, 1908 (Central Act No.16 of 1908) in whose jurisdiction the property or any portion thereof which is the subject matter of the instrument is situate, shall, within two years from the date of registration of any instrument, not already referred to him under sub-section (1) call for and examine the instrument for the purpose of satisfying himself as to the correctness of its value or consideration, as the c....

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....nt relating to the transfer of any property, if he has reasons to believe that the value of the property or consideration, as the case may be, has not been truly set forth in the instrument, after registering such instrument, to refer the same to the Collector for determination of the value of the property or the consideration, as the case may be, and the proper duty payable thereon. It would, therefore, be clear that the Registering Authority has to satisfy himself that value of the property or the consideration for it has not been truly set forth in the instrument. He may make a reference to the Collector in accordance with the provisions of sub-section (2) of Section 47A. Before making reference, he is required to register the document a....