Amendment status not verified — confirm the current text below against the official source.
Facts affecting duty to be set forth in instrument.—The consideration Tif any, the market value of the property] and all other facts and circumstances affecting the chargeability of any instrument with duty, or the amount of the duty with which it is chargeable, shall be fully and trully set forth therein. Comments & Case-law [Section 27, 40, 47-A and 64—penalty imposed by the Collector for under— valuing the property under registration—assailed on the ground that already a penal provision u/s 64 is provided under the Act—Section 64 of the Act relates to criminal intention of a person who is producing document to the authority for its registration— even if the provisions of section 64 of the Act are made applicable, a person who undervalues a documents, cannot escape the provision of section 40(1)(b) and section 47-A of the Act—if a person wants to defraud the State Government by not giving proper valuation of the property then he may not be allowed to say that he is liable to pay a fine of Rs. 5000/- only and should be made scot free—sections 64. and 47- A of the Aci are not mutually destructive but are supplemental to each other. (M/s Nasco Stee! Pvt. Ltd. vs. State of Bihar) 2004 (4) PLUR 470.]