AMIT KUMAR TYAGI Vs. STATE OF U P

JUDGEMENT

(1.) As requested and agreed by learned counsel for the parties, I proceed to hear and decide this matter finally at this stage under the Rules of the Court.

(2.) The only argument raised in this petition is that the authorities below have determined market value by enhancing it by just 25% without giving any reason while determining as to why 25% of circle rate has been enhanced in order to determine the market value of property in question.

(3.) The instrument No. 3684 was executed and registered on 13.08.2010 in respect of house No. C.C.-1/016, total area 252.42 sq. meter (measured area 67.07 sq. meter), situate at Avantika Colony, Hadbast, Vilalge Mehroli, Tehsil and District Ghaziabad. The proceedings under Section 47-A(iv) of Indian Stamp Act, 1899 (hereinafter referred to as the "Act") were initiated pursuant to a spot inspection made by Additional District Magistrate, Finance and Revenue, Ghaziabad and his report dated 20.10.2010, stating that value set forth in the instrument appears to be less than the minimum residential circle rate prescribed by Collector and, therefore, proceeding for determining market value should be initiated. A notice dated 03.11.2010 was issued to petitioners, they submitted objection dated 12.01.2011 stating that stamp duty has been paid according to market rate/circle rate and on the spot it is only a plain land and no construction existed, therefore, proceedings are liable to be dropped. The same officer, namely, Sri Sarvajeet Ram, who submitted inspection report dated 20.10.2010 and at whose instance the proceedings were initiated took upon himself to consider the matter finally under section 47-A(4) and passed order dated 23.02.2011. It held that there should be an increase of 25% to the circle rate prescribed at the relevant point of time and according thereto the market value of property comes to Rs. 68,47,060/-, whereupon stamp duty payable is Rs. 4,79,300/- and since only Rs. 3,91,000/- has been paid, therefore, there was a deficiency of stamp of Rs. 88,300/-.