Words/expressions market value not defined in the stamp Act.

Four petitioners have joined together and filed the present writ petition praying for the issue of writ of certiorarified mandamus calling for the records relating to the proceedings of the respondent dated 25.2.2002 in respect of pending document Nos.195/01 and 2430/01 and quash the same and, consequently, direct the respondent to register and release the deed of partition dated 13.06.2001 executed by the petitioners herein and presented for registration and pass such further or other orders.

I. The petitioners' case and contentions:-

2. The first petitioner is the mother, while petitioners 2, 3 and 4 are the sons of the first petitioner and late V.K.Gupta, who died during 2001. The said V.K.Gupta died intestate on 2.2.2001. The petitioners herein and one Sheela Devi are the legal heirs of the said V.K.Gupta. They jointly executed a deed of partition dated 13.06.2001 and presented the same for registration before the respondent. In terms of the partition deed, all the properties, left by deceased were divided as detailed in the said partition deed. "A" Schedule in the partition deed consists of the entire properties. The 2nd petitioner herein was allotted "B" Schedule. Sheela Devi since deceased, first party to the partition was allotted "B" schedule. The first petitioner was allotted "C" Schedule. The third petitioner was allotted "E" Schedule and the 4th petitioner was allotted "F" Schedule. The first party Sheela Devi to the partition deed passed away on 24.07.2001, after the execution and presentation of the deed on 13.6.2001.

3. The respondent by communication dated 25.2.2002 merely stated that according to the computation furnished by him, the petitioners are liable to pay a sum of Rs.4,85,231/- towards differential stamp duty and a sum of Rs.2,42,665/- towards registration charges and in all demanded remittance of Rs.7,27,896/-. No details are set out as to how stamp duty has been levied for such an astronomical figure nor any reason has been set out. The respondent by letter dated 25.2.2002 called upon the petitioner to pay Rs.7,27,896/- towards deficit stamp duty and registration charges and collect the partition deed. The impugned communication reads thus:-

"OFFICE OF THE SUB-REGISTRAR OFFICE – T.NAGAR

SAIDAPET, CHENNAI-600 015

To

Puneet Gupta

16, Parthasarathy Gardens

Alwarpet,

Chennai-600 108

Dear Sir,

Sub: Payment – Reg.

Ref: Your Pending Document No.195/2002/D/No.2530/2001

With reference to the above, you have to pay the balance stamp duty and registration charges on your partition deed as per details below:-

DETAILS OF PARTITION DEED

PART 'A' FULL PROPERTY

PART 'B' SHEELA DEVI 4160.00

PART 'C' CHHAYA GUPTA 47059551.00

PART 'D' PUNEET GUPTA 18704358.00

PART 'E' SAWAN GUPTA 22270357.00

PART 'F' CHIRAG GUPTA 18704358.00

-------------

106742784.00

LESS: PART 'C' 47059551.00

--------------

TOTAL VALUE OF

SEPARATED SHARE 59683233.00 ---------------

STAMP DUTY ON RS.59683233.00

@ 2% 1193670.00

LESS : PAID 708439.00

---------------

BALANCE (A) 485231.00

---------------

REGISTRATION CHARGES

ON RS.59683233.00 @ 1% 596835.00

LESS: PAID 354170.00

--------------

BALANCE(B) 242665.00

--------------

BALANCE TO PAY (A) + (B) Rs.727896.00

Your are requested to pay the balance stamp duty and registration charges immediately and collect your partition deed.

Thanking your,

District Registrar

T.Nagar, Madras-600 017."

4. The petitioners have valued the properties of the shares allotted to each of them and paid stamp duty and registration charges of Rs.10.65 lakhs on the separate shares of the property excluding the share of the 2nd petitioner as detailed in para-4 of the affidavit, which reads thus:-"

1st party in the partition Deed (subsequently deceased)-Schedule 'B' property under the partition

Deed 4,160.00

1st petitioner-Schedule 'C' property under the partition deed 4,70,59,551.09

2nd petitioner-Schedule 'D' property under the partition deed 1,06,15,586.00

3rd petitioner-Schedule 'E' property under the partition deed 1,41,81,586.00

4th petitioner-Schedule '