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TMI Blog1994 (1) TMI 276X X X X Extracts X X X X X X X X Extracts X X X X ..... t Judge, Adilabad in his award and decree enhanced the market value to ₹ 75 per sq. yard. Not having been satisfied, the appellant filed the appeal in the High Court and claimed ₹ 300 per sq. yard. The High Court by the impugned judgment and decree dated 29-10-821, dismissed the appeal. 2. Shri A.K. Ganguli, the learned Senior Counsel for the appellant contended that the High Court having accepted that the acquired lands were situated in the heart of the municipal area; the State Bank of Hyderabad and the Andhra Bank were located on the eastern and western sides across the roads; Gandhi Chowk Market and Ambedkar Chowk Market also existed on the National Highway towards Nagpur each at a distance of 200 yards from the land; two ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 75 per sq. yard was high did not arise. The High Court held that the post notification sale deeds were not admissible as none of the persons connected with them were examined to establish the genuineness of the sales or of similarity of the lands acquired and those covered in the sale transactions. It also rejected the agreements of sales finding them to be those fabricated to inflate the market value. We cannot find fault with the approach made by the High Court in the facts and circumstances of the case. The sales claimed to be comparable were rightly not acted upon. 4. The High Court found that Basic Valuation Register had no evidentiary value, in that it had no statutory basis. Therefore, the entries in the Basic Valuatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 24 clause sixthly of the Act, in fact, the future potential use is not relevant but decided cases show that it may be a factor to be kept in view in an appropriate case for determining the market value. In this case, there is no evidence on record except the Basic Valuation Register admittedly maintained by the authorities. 5. The question, therefore, is whether the Basic Valuation Register is evidence to determine the market value. This Court in Special Land Acquisition Officer v. T. Adhinarayan Setty AIR 1959 SC 429: 1959 Supp 1 SCR 404 : 1959 Cri LJ 526 in paragraph 9 held that the function of the Court in awarding compensation under the Act is to ascertain the market value of the land at the date of the notification under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tering officer has reason to believe that the market value of the property, covered by the conveyance, exchange, gift, release of right or settlement, has not been truly set forth in the instrument, he may refuse registering such instrument and refer the same to the Collector for determination of the market value of such property and the proper duty payable thereon. On receipt of such opinion, he may call upon the vendor as per the rules prescribed, to pay the additional duty thereon. If the vendor is dissatisfied, he has been given the right to file an appeal and further getting reference made to the High Court for decision in that behalf. Section 47-A would thus clearly show that the exercise of the power thereunder is with reference to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion Register prepared and maintained for the purpose of collecting stamp duty has no statutory base or force. It cannot form a foundation to determine the market value mentioned thereunder in instrument brought for registration. Equally it would not be a basis to determine the market value under Section 23 of the Act, of the lands acquired in that area or town or the locality or the taluk etc. Evidence of bona fide sales between willing prudent vendor and prudent vendee of the lands acquired or situated near about that land possessing same or similar advantageous features would furnish basis to determine market value. The Division Bench followed, in support of its view a decision of another Division Bench in Land Acquisition Officer v. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... determine the market value under Section 23 in an appropriate case, subject to proof of the market value. What were the instructions issued by the Government and whether they had any statutory foundation, have not been stated by the Division Bench. If the broad proposition of law that under Section 47-A of Stamp Act such instructions could be issued, as contended for the appellant herein, as appears to be the view of the High Court, it is not correct law. As we have already noted, Section 47-A being local amendment, made by each State Legislature did not find any such statutory basis. Like A.P. Act, Tamil Nadu Act is also referable to transactions intra vivos and not as general guidelines. If they are based on evidence inter partes it wo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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