In Brief
The Supreme Court addressed the proper method for determining property value for court fee purposes under the Court Fees Act, 1870. In disputes over cancellation of sale deeds, the Court held that the circle rate fixed by the Collector is the correct mode for market value determination unless expressly challenged as incorrect. The 'market value' under Section 7 (iv-A) is defined by statute and refers to one of several statutory valuation methods, not the broader economic concept of market value. Plaintiffs need not prove revenue-paying status at filing; such valuation disputes become trial issues. The High Court's judgment was reversed as it misapplied the statutory definition of market value.
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