THE BOMBAY STAMP ACT, 1958 - Igrmaharashtra.gov.in
THE BOMBAY STAMP ACT, 1958 - Igrmaharashtra.gov.in
THE BOMBAY STAMP ACT, 1958 - Igrmaharashtra.gov.in
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1 [Provided further that, <strong>in</strong> respect of references pend<strong>in</strong>g with the Collector of the,District, before the commencement of the Maharashtra Tax Laws (Levy SecondAmendment and Validation) Act, 1996, for determ<strong>in</strong>ation of true market value of theimmovable property which is the subject matter of the <strong>in</strong>strument, the person liable topay the stamp duty under section 30 shall not be liable to pay penalty exceed<strong>in</strong>g rupees250 if, he makes the payment of the stamp duty and penalty with<strong>in</strong> one month from thedate of receipt of the order of the Collector of the District, by him].1 [Provided also that, <strong>in</strong> no case, the amount of the penalty shall exceed double thedeficient portion of the stamp duty.](5) The Collector of the District, may, suo moto or on receipt of <strong>in</strong>formation from anysource, with<strong>in</strong> 3[ten years] from the date of registration of any <strong>in</strong>strument referred to <strong>in</strong>sub-section (1), (not be<strong>in</strong>g the <strong>in</strong>strument upon which an endorsement has been madeunder section 32 or the <strong>in</strong>strument or the <strong>in</strong>struments <strong>in</strong> respect of which the proper dutyhas been determ<strong>in</strong>ed by him under sub-section (4) or an <strong>in</strong>strument executed before the4th July 1980), call for the true copy or an abstract of the <strong>in</strong>strument from the register<strong>in</strong>gofficer and exam<strong>in</strong>e it for the purpose of satisfy<strong>in</strong>g himself as to the correctness of themarket value of the immovable property which is the subject matter. of such <strong>in</strong>strumentand the duty payable thereon; and if, after such exam<strong>in</strong>ation, ,.he has reason to believethat the market value of such property has not been truly and fully setforth <strong>in</strong> the<strong>in</strong>strument he shall proceed as provided <strong>in</strong> sub-section (4).4 [(6) It shall be lawful for the Chief Controll<strong>in</strong>g Revenue Authority or the Collector ofthe District to transfer to any other Officer,: any reference received by the Collector ofthe District under this section, for disposal <strong>in</strong> accordance with the Bombay Stamp(Determ<strong>in</strong>ation of True Market Value of Property) Rules, 1995.]______________________________1. This proviso was substituted by Mah. 9!)f 1997, s. 9(b)(ii), (w.ej 15.9.1996). Prior tosubstitution proviso read as under :-Provided further that. the provisions of this sub-section, as amended by the MaharashtraTax Laws (Levy and Amendment) Act, 1993 (Mah. 17 of 1993) <strong>in</strong> so far as they relate tothe payment of penalty, shall not apply to the references f<strong>in</strong>alised by the Collector beforethe date of commencement of .the said Act.2. This proviso was added as Amended by M~. Tax Laws (Levy and Amendment) Act,2001, s. 3(b). 3. These words were substituted for the words "eight years" by Mah. TaxLaws (Levy, Amendment and Validation) Act, 30 of 1997, s. 3(d) (w.e.f. 15.5.1997).4. Sub-section (6) was substituted by Mah. Tax Laws (Levy, Amendment and Validation)Act, 30 of 1997, s. 3(e) (w.e.f.15.5.1997). Prior to substitution sub-section (6) which was<strong>in</strong>serted by Mah. 18 of 1989, w.ef.. 1.12.l98p read as under :-(6) It shall be lawful for the Collector of the District to transfer any reference received byhim under sub-section (3) of section 31 or under this section for determ<strong>in</strong>ation of the truemarket value of the immovable property which is the subject matter of the <strong>in</strong>strument andthe property duty payable thereon, for disposal <strong>in</strong> accordance with the provision of subsection(3) of section 31 or, as the case may be, this section, to the Additional Collectorof the District, if any or any other officer <strong>in</strong> his District not below the rank of-