MOHALI CLUB MOHALI Vs. STATE OF PUNJAB

JUDGEMENT

(1.) Value on date of allotment or value on date of execution of registration -- That's question.

(2.) The Collector rejected the Petitioner's contention and the appeal confirmed the view of the Collector that the valuation for the property under the sale deed shall be the Collector's valuation on the date of execution and registration and not on the date when the property was offered to the Petitioner through allotment.

(3.) The contention in challenge of the orders passed by the Collector and the Appellate Authority is that the price charged for sale by a public authority namely the Development Authority ought to be taken as the market valuation and the counsel brings in support to his contention the explanation to Rule 3-A of the Punjab Stamp (Dealing of Under-valued Instruments) Rules of 1983. The explanation reads as follows: