ORDER :

1. By way of the present petition, a challenge is made to the order impugned dated 31.03.2014 passed in Case No. 267/2014 titled as State (through Sub-Registrar, Jaipur-4) vs. Alok Agarwal & Anr. whereby stamp duty of Rs. 6,15,93,340/-along with surcharge of Rs. 61,59,340/-and penalty of Rs. 22,47,320/-totaling Rs.7,00,00,000 (7 crores) has been raised against the petitioner.

2. The concise and ineluctable factual matrix, necessary for discerning the issue at hand, is noted herein-under:-

2.1. That the petitioner is the owner of agricultural land comprising an area of 9 Bighas and 11 Biswas.

2.2. That on 07.06.2010, qua the said land, the petitioner entered into a ‘development agreement’ with a company namely, M/s. Sunny Arcade Private Ltd.

2.3. That the said agreement was divided into two distinct parts. The first part of the agreement provided that the developer would furnish a security deposit of Rs. 2 crores in favour of the petitioner by way of post-dated cheques (PDCs). Moreover, the developer would also initiate and complete proceedings under Section 90-B of the Rajasthan Land Revenue Act along with getting the land use of the said property changed and thereafter, obta