A.S.SUNDARESAN Vs. INSPECTOR GENERAL OF REGISTRATION

JUDGEMENT

(1.) The appellant is aggrieved by the impugned order dated 31.5.2004 passed by the 1st respondent, Inspector General of Registration under the provisions of the Indian Stamp Act, 1899. By the impugned order, the 1st respondent has partially allowed the appeal filed by the appellant under section 47-A (5) of the aforesaid Act.

(2.) By the impugned order, the 1st respondent has concluded that the market value of the land was Rs.2,200 per square feet and has fixed the value of the building as Rs.2,79,579 and has called upon the appellant to pay the deficit stamp duty together with interest at 2% per month during the period of default under Section 47(4) of the Act.

(3.) The petitioner had purchased a property on Luz Corner Road, Mylapore, Chennai and had signed sale deed dated 22.1.1999. In the said sale deed which was presented for registration, the appellant had set forth the value of the property as Rs.9, 00,000/- and paid stamp duty. The 3 rd respondent invoked Section 47-A (1) of the Act and referred the sale deed to the 2nd respondent for determination of the correct market value as he suspected that the market value of the property was not truly set forth in the said document.