Amendment status not verified — confirm the current text below against the official source.
Allowance for stamps not required for use.—When any person is possessed of a stamp or stamps which have not been spoiled or rendered unfit or useless for the purpose intended, but for which he has no immediate use, the Collector shall repay to such person the value of such stamp or stamps in money, deducting ten nayc paise for each rupee or portion of a rupee, upon such, person delivering up the same to be cancelled and proving to the Collector's satisfaction— (a) that such stamp or stamps were purchased by such person with a bona fide intention to use theni; and (b) that he has paid the full price thereof: and (c) that they were so purchased within the period of six months next preceding the date on which they were so delivered: Provided that where the person is a licensed vendor of stamps, the Collector may, if he thinks fit, make the repa2yment of the sum actually paid by the vendor without any such deduction as aforesaid. Comments and Case-law [Value of the property not correctly mentioned and was under valued-fine was imposed as double the amount of the stamp duty-statute limits fine only upto the extent of Rs. 5000/- — fine imposed beyond the limit is illegal and without jurisdiction- fine reduced te its limit. Ahilya Devi vs. State of Bihar, 2002 (1) PLUR 222.) 54.A. Allowanace for stamps in denominations of annas.—Notwithstanding anytning contained in section 54, when any person is possessed of a stamp or Stamps in any denominations other than in denominations of annas four or multiples the-eof and such stamp or stamps has or have not been spoiled, the Collector shall repay to such person the value of such stamp or Stamps in money calculated in accordance with the provisions of sub-section (2) of section 14 of the indian Coinage Aci, 1906 (Ill of 190S), upon such person delivering up, within six months from the cemmencemert of the Indian Stamp (Amending) Act, 1958 (19 of 1 958), such stamp or stamps lo the Collector. '[54-B. Allowance for Refugee Relief Stamp. contained in section 54, when any person is possessed of stamps bearing the inscription “Refugee Relief" (being stamps issued in pursuance of section 3A before its omission) and such stamps have not been spoiled, the Collector shall, upon such person deiivering up, within six months from the commencement of the Refugee Relief Taxes (Abolition) Act, 1973 (13 of 1973), such stamps to the Collector, refund to such person the value of such stamps in money or give in lieu thereof other stamps of the same value: —Notwithstanding anything