In Brief
The Supreme Court held that Section 47A of the Indian Stamp Act, 1899 does not apply to property sold in court-monitored public auctions with proper publicity. When a court confirms an auction sale after receiving competitive bids, the Registering Authority cannot invoke Section 47A to demand additional stamp duty based on an independently determined 'market value'. The Court reasoned that court auctions are the most transparent method of obtaining true market value, and any price discount reflects legitimate costs of the forced sale process, not undervaluation. Once the court imprimatur is given, interference by the Registering Authority would improperly constitute an appeal against the court's decision.
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