B. P. JEEVAN REDDY, J.

( 1 ) IN its search for more revenue the State of Andhra Pradesh hasbeen tapping every possible source, to the maximum extent possible. Section 47-A was introduced by A. P. Amendment Act 22 of 1971, in the Indian stamp Act for this very purpose. This Section introduced the concept of market value of the property as the basis for payment of stamp duty, instead of the consideration that passed between the parties. By the very same amendment Act, several Entries in the Schedule to the Stamp Act relating to conveyance, exchange, and gift etc , were also amended, introducing the concept of market value of the subject-matter of the transaction, in the place of consideration. For example, in item 20 of Schedule I-A relating to conveyance, the stamp duty now became payable on the consideration stated in the conveyance, or the market value of the property, whichever is higher. Similar amendments were made in other Entries relating to exchange and gift, among others. From the date of the said amendment, stamp duty became payable not on the consideration stated in the deed of conveyance, gift, or exchange, but on the market value of the property conveyed, exchanged, or gifted, as the case may be. Section 47-A conferred a power upon the registering-officer to refer the matter to the Collector for determination of market value of the property which is the subject-matter of such deed, where he has reason to believe that the market value of the property, which is the. subject-matter of such instrument, has not been truly set forth in the instrument. He was of course to register the document first, and then refer the matter to the Collector. On receipt of reference, the Collector, was empowered to hear the parties and, after holding such enquiry as may be prescribed by the Rules made under the Act, determine the value of the property and the stamp duty payable thereon. On such determination the person liable to pay the duty was bound to pay the same. The Section also conferred a suo motu power upon the Collector to revise the value of any property mentioned in the document, within a period of two years from the date of registration of the document, and to collect the difference from the person liable to pay the stamp duty. An appeal was provided against the order of the Collector. The Section defined the expression market value , thus :"for the purposes of this Act, Market value of any property shall be estimated to be the price which in the opinion of the Collector or the appellate authority, as the case may be, such property would have fetched or would fetch if sold in the open market on the date of execution of the instrument of conveyance, exchange, gift, partition of settlement".

( 2 ) HAVING enacted Section 47-A, the Government of Andhra Pradeshproceeded to prepare a 3asic Value Register for the entire State. Values were fixed for urban properties, and agricultural properties, all over the State and instructions were given to registering officers not to register a document until and unless the. market-value shown in the deed of conveyance/exchange/gift is stated at a figure not less than the value mentioned for such property in the basic-value register. Values in the Basic Value register have been revised from time to time, and on all occasions upwards. Cases have come before this Court where the complaint was that the value stated in the Basic Value Register in respect of a particular property is far higher than its true market-value, and yet the registering officers were insisting upon payment of Stamp duty on such inflated value stated in the Basic value Register. One such case was dealt with by me in N. Ranga Reddy vs. Government of Andhra Pradesh. (The decision was rendered on 17-7-1985 ). The petitioner s complaint in that case was that the value of land in his village was not more than Rs. 2,500/- per Acre, but the Government had fixed the value of the said land, in the Basic Value Register, at Re. 1-/ pe

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