Amendment status not verified — confirm the current text below against the official source.
Collector's power to stamp instrument impounded.—(1) When the Collector iimpounds, any instrument under section 33, or receives any instrument sent to him under section 38, sub-section (2), not being an Instrument chargeable with a duly not exceeding ten naye paise only or a bill of exchange or promissory note, he shall adopt the following procedure— (a) if he is of opinion that such instrument is duly stamped, or is not chargeable with duty, he shall cerlily by endorsement thereon that itis duly stamped, or that tt is Nol So Chargeable as the case may be; Secs. 41-42 ] Indian Stamp Act, 1899 [99 (b) if he is of opinion that such instrument is char i geable with duty and is not duly siainpee he shall require the payment of the proper duty or the aici required to make up the same, together with a penalty of five rupees; or, if he thinks fit, an amount not exceeding ten times the amount of the proper duty or of the deficient portion thereof, whether such amount exceeds or falls short of five rupees: Provided that, when such instrument has been impounded only because it has been written in contravention of section 13 or section 14, the Collector may, if he thinks fit, remit the whole penalty prescribed by this section. (2) Every certificate under clause (b) of sub-section (1) shall, for the purposes of this Act, be conclusive evidence of the matters stated therein. _ (3) Where an instrument has been sent to the Collector under section 38, sub- section (2) the Collector shall, when he has dealt with it as provided by this section, return it to the impounding officer. Comments & case-law _ [Sections 27, 40, 47A 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 under values a document, can not escape the provision of Section 40(1)(b) and Section 47A of the Act—if a person wants to defraud the State Government by not giving proper valuation of the property them 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 474 of the Act are not mutually destructive but are supplemental to each other. M/s Nasco Steel Pvt. Ltd. vs. State of Bihar, 2004(4) PLUR 470.]