( 1 ) A very important question of law falls for consideration in this revision petition i. e. , what is the stamp duty payable on a sale deed executed by the court pursuant to a judgment and decree in a suit for specific performance, on the basis of an agreement of sale. To put it in more clear terms whether the Registering Officer can demand stamp duty on the basis of the prevailing market value of the property on the date of execution of the regular sale deed by the Court without reference to the consideration which the purchaser/ vendee agreed to purchase the property under an agreement of sale and without reference to the time taken by the Courts in decreeing the suit for specific performance.

( 2 ) THE factual matrix of the case is that respondents herein seemed to have entered into an agreement of sale on 27-06-1965 to purchase an extent to ac. 300. 00 of land in Vajinepalli Village, Nalgonda District for a consideration of Rs. 10,500/- from one S. Venkata Laxmamma. When the said lady refused to execute the sale deed as per the terms of the agreement of sale, these individuals seemed to have filed O. S. No. 23 of 1968 seeking a decree for specific performance of the above agreement of sale and the suit was ultimately decreed by judgment and decree dated 21-02-1977. In the meantime another person by name A. China Venkatarao appears to be the cousin of Venkata Laxmamma filed O. S. No. 101 of 1976 on the file of the District Munsif, Huzurnagar seeking permanent injunction against respondents 1 to 3 and their vendor Smt. Venkata laxmamma by contending that she entered into an agreement of sale with him on 27-06-1965. After contest the suit was dismissed on 31-10-1980. Thereafter he seemed to have carried the matter in appeal by filing A. S. No. 37 of 1984 and the District Court seemed to have allowed the appeal and granted permanent injunction against respondents 1 to 3 herein and their vendor. Thereafter the petitioners herein seemed to have carried the matter to this Court by filing S. A. No. 445 of 1985 and it was ultimately allowed by decree and judgment dated 25-06-1986 and restored the judgment and decree of the trial Court.

( 3 ) AFTER the above two rounds of litigation was over, the respondents seemed to have filed E. P. No. 4 of 1987 against their vendor seeking execution of the sale deed in terms of judgment and decree of the Sub-Court, Nalgonda in O. S. No. 23 of 1. 968. But the said Venkata Laxmamma having received notice in the E. P. did not come forward to execute the sale deed for a long time. During the pendency of this E. P. , the first respondent as well as his vendor seemed to have died and their legal representatives were brought on record. In such circumstances the respondents filed E. A. No. 6 of 1994 in E. P. No. 4 of 1987 requesting the Court to execute a registered sale deed in their favour and they also filed draft sale deed and the stamp duty payable on the basis of sale consideration. Thereafter the Court seemed to have addressed a letter to the Sub-Registrar concerned to find out the market value of the said lands and the Sub-Registrar informed the Court that as per the basic value of the register, the market value of the land is more than Rs. 35,000/- per acre and on the basis of the prevailing market rate, a stamp duty of Rs. 47,035. 50 ps. were required to be paid. In those circumstances, the Subordinate Judge framed the following issue for consideration: (1) Whether there are sufficient grounds to send the deposited stamps to the Sub-Registrar for registration of the lands?

( 4 ) HAVING considered the binding nature of the market values given in the basic register, the Subordinate Judge observed as follows:"it is extremely hard upon the decreeholder to abide by the values stated in the Basic Valuation Register. As pointed by the decreeholder the values stated as per the Basic Valuation Register are contrary to Section 47-A of the Indian Stamp Act. "

( 5 ) HAVING referred to t