Debangsu Basak, J. - (1.) The petitioner has assailed a memo dated December 30, 2010 issued by the Additional Registrar of Assurances, Kolkata. By such memo the registering authorities have treated the document presented by the petitioner for registration in respect of an immovable property as a conveyance and has demanded stamp duty in accordance with the market price of such property.
(2.) Learned Advocate for the petitioner has submitted that, the petitioner had participated in a public auction of an immovable property put up for sale by the authorised officer of the State Bank of India under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002). The petitioner was declared as the highest bidder. The sale was confirmed in favour of the petitioner. The authorised officer had issued a sale certificate in respect of the premises concerned for the total consideration of Rs.5,30,100/- being the highest bid. The petitioner had presented a document for registration with the registering authorities. The registering authorities had initially assessed the stamp duty of such document. Thereafter, the registering authorities had changed their view and had demanded stamp duty on the basis of market value.
(3.) Learned Advocate for the petitioner has relied upon 2009 Volume 7 Supreme Court Cases page 438 (V.N. Devadoss v. Chief Revenue Control Officer-cum-Inspector and Ors.) and has submitted that, in view of the ratio laid down therein, the registering authorities are not entitled to the payment of stamp duty on the market value of the property concerned, as demanded by them. The registering authorities have to register the document on the basis that the stamp duty payable would be calculated on the highest bid amount. He has submitted that, the provisions of Section 47A of the Indian Stamp Act, 1899 is not attracted so far as the document is concerned. The property was purchased by the petitioner in a public auction. The price offered in the public auction was the highest bid and, therefore, the same has to be considered as the market value of the property. The auction was held after wide spread advertisement. Therefore, the question of not declaring the actual value of the property does not arise.;