- (1.) Heard Sri Udayan Nandan, learned counsel for the petitioner and perused the record.
(2.) This writ petition under Article 226 of the Constitution of India has arisen from the orders passed by stamp authorities raising a demand on account of deficiency of stamp duty in respect of a transaction of sale whereby the petitioner has purchased an industrial unit of M/s Gauri Steels and Alloys (P) Ltd. for consideration of Rs. 23,20,000/- and paid stamp duty of Rs. 33,600/-. The Sub-Registrar made reference under Section 33/47-A of Indian Stamp Act, 1899 (hereinafter referred to as the "Act, 1899") whereafter a show cause notice was issued to petitioner and after considering reply dated 01.01.1996, the Additional Collector (Finance & Revenue), Bahraich, vide order dated 30.01.1996, has determined market value of entire property under transaction, as Rs. 118 lacs, whereupon the stamp duty chargeable comes to Rs. 17,11,000/-, hence deficiency of Rs. 13,74,600/- has been determined and demanded from the petitioner. Penalty of Rs. 13,74,500/- has also been imposed upon petitioner.
(3.) Against aforesaid order, the petitioner preferred revision which has been dismissed by Chief Controlling Revenue Authority, U.P., Allahabad, vide order dated 06.12.2001.;