Indian_Real_Estate_Law (2)

17.07.2022 Views

Indian Real Estate Laws 214managing director or secretary or other principalofficer of the company, shall be punishablewith fine which may extend to five hundred rupees.63. Penalty for failure to cancel adhesivestamp.—Any person required by section 12 tocancel an adhesive stamp, and failing to cancelsuch stamp in manner prescribed by that section,shall be punishable with fine which mayextend to one hundred rupees. 64. Penaltyfor omission to comply with provisions of section27.—Any person who, with intent to defraudthe Government,— (a) executes any instrumentin which all the facts and circumstancesrequired by section 27 to be set forthin such instrument are not fully and truly setforth; or (b) being employed or concerned inor about the preparation of any instruments,neglects or omits fully and truly to set forththerein all such facts and circumstances; or (c)does any other act calculated to deprive theGovernment of any duty or penalty under thisAct, shall be punishable with fine which mayextend to five thousand rupees. 65. Penaltyfor refusal to give receipt, and for devices toevade duty on receipts.—Any person who,—(a) being required under section 30 to give areceipt, refuses or neglects to give the same; or(b) with intent to defraud the Government ofany duty, upon a payment of money or deliveryof property exceeding twenty rupees in amountor value, gives a receipt for an amount or valuenot exceeding twenty rupees, or separates ordivides the money or property paid or delivered,shall be punishable with fine which mayextend to one hundred rupees. 66. Penaltyfor not making out policy or making one notduly stamped.—Any person who,— (a) receives,or takes credit for, any premium or considerationfor any contract of insurance anddoes not, within one month after receiving, ortaking credit for, such premium or consideration,make out and execute a duly stampedpolicy of such insurance; or (b) makes, executesor delivers out any policy which is notduly stamped, or pays or allows in account, oragrees to pay or allow in account, any moneyupon, or in respect of, any such policy, shallbe punishable with fine which may extend totwo hundred rupees. 67. Penalty for not drawingfull number of bills or marine policies purportingto be in sets.—Any person drawingor executing a bill or exchange 110 [payableotherwise than on demand] or a policy of marineinsurance purporting to be drawn or executedin a set of two or more, and not atthe same time drawing or executing on paperduly stamped the whole number of billsor policies of which such bill or policy purportsthe set to consist, shall be punishablewith fine which may extend to one thousandrupees. 68. Penalty for post-dating bills, andfor other devices to defraud the revenue.—Anyperson who,— (a) with intent to defraud theGovernment of duty, draws, makes or issuesany bill of exchange or promissory note bearinga date subsequent to that on which suchbill or note is actually drawn or made; or(b) knowing that such bill or note has beenso post-dated, endorses, transfers, presents foracceptance or payment, or accepts, pays or receivespayment of, such bill or note, or in anymanner negotiates the same; or (c) with thelike intent, practices or is concerned in anyact, contrivance or device not specially providedfor by this Act or any other law for thetime being in force, shall be punishable withfine which may extend to one thousand rupees.69. Penalty for breach of rule relatingto sale of stamps and for unauthorized sale.—(a) Any person appointed to sell stamps whodisobeys any rule made under section 74, and(b) any person not so appointed who sells oroffers for sale any stamp (other than a 111 [tennaye paise or five naye paise] adhesive stamp),shall be punishable with imprisonment for aterm which may extend to six months, or withfine which may extend to five hundred rupees,or with both. 70. Institution and conduct ofprosecutions.— (1) No prosecution in respectof any offence punishable under this Act orany Act hereby repealed, shall be institutedwithout the sanction of the Collector or suchother officer as 112 [the 113 [State Government]]generally, or the Collector specially, authorizesin that behalf. (2) The Chief ControllingRevenue-Authority, or any officer generallyor specially authorized by it in this behalf,may stay any such prosecution or compoundany such offence. (3) The amount of any suchcomposition shall be recoverable in the man-7.0 7. THE INDIAN STAMP ACT, 1899

215 Indian Real Estate Lawsner provided by section 48. 71. Jurisdictionof Magistrates.—No Magistrate other than aPresidency Magistrate or a Magistrate whosepowers are not less than those of a Magistrateof the second class, shall try any offence underthis Act. 72. Place of trial.—Every such offencecommitted in respect of any instrumentmay be tried in any district or presidencytownin which such instrument is found, aswell as in any district or presidency-town inwhich such offence might be tried under theCode of Criminal Procedure for the time beingin force. 73. Books, etc., to be opento inspection.—Every public officer having inhis custody any registers, books, records, papers,documents or proceedings, the inspectionwhereof may tend to secure any duty, orto prove or lead to the discovery of any fraudor omission in relation to any duty, shall atall reasonable times permit any person authorizedin writing by the Collector to inspect forsuch purpose the registers, books, papers, documentsand proceedings and to take such notesand extracts as he may deem necessary, withoutfee or charge. 74. Powers to make rules relatingto sale of stamps.—The 114 [State Government]115 [***] may make rules for regulating—(a) the supply and sale of stampsand stamped papers, (b) the persons by whomalone such sale is to be conducted, and (c) theduties and remuneration of such persons: Providedthat such rules shall not restrict the saleof 116 [ten naye paise or five naye paise] adhesivestamps. 75. Power to make rules generallyto carry out Act.—The 117 [State Government]may make rules to carry out generallythe purposes of this Act, and may bysuch rules prescribe the fines, which shall inno case exceed five hundred rupees, to be incurredon breach thereof. 76. Publication ofrules.— 118 [ (1) All rules made under this Actshall be published in the Official Gazette.] (2)All rules published as required by this sectionshall, upon such publication, have effect as ifenacted by this Act. 119 [(3) Every rule madeby the State Government under this Act shallbe laid, as soon as may be after it is made,before the State Legislature.] 120 [76A. Delegationof certain powers.— 121 [ 122 [***] TheState Government, may, by notification in theOfficial Gazette], delegate— (a) all or any ofthe powers conferred on it by sections 2(9),33(3) (b), 70(1), 74 and 78 to the Chief ControllingRevenue-Authority, and (b) all or anyof the powers conferred as the Chief ControllingRevenue-Authority by sections 45(1) (2),56(1) and 70(2) to such subordinate Revenue-Authority as may be specified in the notification.]77. Saving as to court-fees.—Nothingin this Act contained shall be deemed to affectthe duties chargeable under any enactmentfor the time being in force relating tocourt-fees. 123 [77A. Saving as to certainstamps.—All stamps in denominations of annasfour or multiples thereof shall be deemedto be stamps of the value of twenty-five nayepaise or, as the case may be, multiples thereofand shall, accordingly, be valid for all the purposeof this Act.] 78. Act to be translated, andsold cheaply.—Every 124 [State Government]shall make provision for the sale of translationsof this Act in the principal vernacularlanguages of the territories administered by itat a price not exceeding 125 [twenty-five nayepaise] per copy. 79. Repeal.—[Rep. by the Repealingand Amending Act, 1914 (10 of 1914),sec. 3 and Sch. II.] THE INDIAN STAMPACT, 1899 SCHEDULE II.—Enactments repealed.—[Rep.by the Repealing and AmendingAct, 1914 (10 of 1914), sec. 3 and Sch.II.]. 1. Subs. by Act 43 of 1955, sec. 3, forsub-section (2) (w.e.f. 1-4-1956). 2. Subs. bythe A.O. (No. 2) 1956, for “Part B States”.3. Subs. by Act 43 of 1955, sec. 2, for “theStates” (w.e.f. 1-4-1956 ). 4. Clause (8) omittedby the A.O. 1937. 5. Subs. by the A.O.1937, for “the Local Government”. 6. Subs. bythe A.O. 1950, for “collecting Government”. 7.Clause (12A) ins. by the A.O. 1937 and omittedby the A.O. 1950. 8. Ins. by Act 43 of1955, sec. 4 (w.e.f. 1-4-1956 ). 9. Ins. by Act15 of 1904, sec. 2. 10. Subs. by Act 43 of1955, sec. 2, for “the States” (w.e.f. 1-4-1956). 11. The word “and” omitted by Act 5 of1906, sec. 2. 12. Sub-clause (c) omitted byAct 5 of 1906, sec. 2. 13. Ins. by Act 43 of1955, sec. 4 (w.e.f 1-4-1956 ). 14. The word“and” omitted by Act 18 of 1928, sec. 2 andSch. I. 15. Ins. by Act 15 of 1904, sec. 2.16. The word “and” ins. by Act 18 of 1928,7. THE INDIAN STAMP ACT, 1899 7.0

215 Indian Real Estate Laws

ner provided by section 48. 71. Jurisdiction

of Magistrates.—No Magistrate other than a

Presidency Magistrate or a Magistrate whose

powers are not less than those of a Magistrate

of the second class, shall try any offence under

this Act. 72. Place of trial.—Every such offence

committed in respect of any instrument

may be tried in any district or presidencytown

in which such instrument is found, as

well as in any district or presidency-town in

which such offence might be tried under the

Code of Criminal Procedure for the time being

in force. 73. Books, etc., to be open

to inspection.—Every public officer having in

his custody any registers, books, records, papers,

documents or proceedings, the inspection

whereof may tend to secure any duty, or

to prove or lead to the discovery of any fraud

or omission in relation to any duty, shall at

all reasonable times permit any person authorized

in writing by the Collector to inspect for

such purpose the registers, books, papers, documents

and proceedings and to take such notes

and extracts as he may deem necessary, without

fee or charge. 74. Powers to make rules relating

to sale of stamps.—The 114 [State Government]

115 [***] may make rules for regulating—

(a) the supply and sale of stamps

and stamped papers, (b) the persons by whom

alone such sale is to be conducted, and (c) the

duties and remuneration of such persons: Provided

that such rules shall not restrict the sale

of 116 [ten naye paise or five naye paise] adhesive

stamps. 75. Power to make rules generally

to carry out Act.—The 117 [State Government]

may make rules to carry out generally

the purposes of this Act, and may by

such rules prescribe the fines, which shall in

no case exceed five hundred rupees, to be incurred

on breach thereof. 76. Publication of

rules.— 118 [ (1) All rules made under this Act

shall be published in the Official Gazette.] (2)

All rules published as required by this section

shall, upon such publication, have effect as if

enacted by this Act. 119 [(3) Every rule made

by the State Government under this Act shall

be laid, as soon as may be after it is made,

before the State Legislature.] 120 [76A. Delegation

of certain powers.— 121 [ 122 [***] The

State Government, may, by notification in the

Official Gazette], delegate— (a) all or any of

the powers conferred on it by sections 2(9),

33(3) (b), 70(1), 74 and 78 to the Chief Controlling

Revenue-Authority, and (b) all or any

of the powers conferred as the Chief Controlling

Revenue-Authority by sections 45(1) (2),

56(1) and 70(2) to such subordinate Revenue-

Authority as may be specified in the notification.]

77. Saving as to court-fees.—Nothing

in this Act contained shall be deemed to affect

the duties chargeable under any enactment

for the time being in force relating to

court-fees. 123 [77A. Saving as to certain

stamps.—All stamps in denominations of annas

four or multiples thereof shall be deemed

to be stamps of the value of twenty-five naye

paise or, as the case may be, multiples thereof

and shall, accordingly, be valid for all the purpose

of this Act.] 78. Act to be translated, and

sold cheaply.—Every 124 [State Government]

shall make provision for the sale of translations

of this Act in the principal vernacular

languages of the territories administered by it

at a price not exceeding 125 [twenty-five naye

paise] per copy. 79. Repeal.—[Rep. by the Repealing

and Amending Act, 1914 (10 of 1914),

sec. 3 and Sch. II.] THE INDIAN STAMP

ACT, 1899 SCHEDULE II.—Enactments repealed.—[Rep.

by the Repealing and Amending

Act, 1914 (10 of 1914), sec. 3 and Sch.

II.]. 1. Subs. by Act 43 of 1955, sec. 3, for

sub-section (2) (w.e.f. 1-4-1956). 2. Subs. by

the A.O. (No. 2) 1956, for “Part B States”.

3. Subs. by Act 43 of 1955, sec. 2, for “the

States” (w.e.f. 1-4-1956 ). 4. Clause (8) omitted

by the A.O. 1937. 5. Subs. by the A.O.

1937, for “the Local Government”. 6. Subs. by

the A.O. 1950, for “collecting Government”. 7.

Clause (12A) ins. by the A.O. 1937 and omitted

by the A.O. 1950. 8. Ins. by Act 43 of

1955, sec. 4 (w.e.f. 1-4-1956 ). 9. Ins. by Act

15 of 1904, sec. 2. 10. Subs. by Act 43 of

1955, sec. 2, for “the States” (w.e.f. 1-4-1956

). 11. The word “and” omitted by Act 5 of

1906, sec. 2. 12. Sub-clause (c) omitted by

Act 5 of 1906, sec. 2. 13. Ins. by Act 43 of

1955, sec. 4 (w.e.f 1-4-1956 ). 14. The word

“and” omitted by Act 18 of 1928, sec. 2 and

Sch. I. 15. Ins. by Act 15 of 1904, sec. 2.

16. The word “and” ins. by Act 18 of 1928,

7. THE INDIAN STAMP ACT, 1899 7.0

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