JUDGMENT A.U. Khan, C.C.R.A. - The Facts Are : On 14-11-1989 Ghaziabad Development Authority permits transfer of lease old rights by Rakesh Kumar, lessor to Smt. Leelawati Garg. The area of the house is 536.33 sqr. meter and at the rate of 425 sqr. meters the value or sum to at Rs. 227940.50. The stamp duty paid is at Rs. 33060.00 The deed is executed and registration closes the transaction. 2. Sub-registrar submits a reference under Section 47-A Stamp Act for legal action. It avers that it is a case of under-valuation ; the transaction is essentially a sale. On 26-9-1970 a show cause notice is issued. No objection in opposition is filed. On 3-5-1991 Additional Collector (F & R) determines market value at Rs. 429064.00. He directs payment of stamp duty at Rs. 29209.50. Also to pay a penalty at Rs. 29209.50. Aggrieved by the order, Smt. Leelawati lodges a revision. 3. Heard the counsel for the parties and perused the record. 4. The primary thing to decide is the nature of document executed on 14-11-1989 with permission of Ghaziabad Development Authority. The instrument falls under item No. 63 Schedule I-B, Stamp act because it is chiefly a transfer of lease hold rights by way of assignment and not by way of under-lease. Proper stamp duty payable thereon is The same duty is a conveyance (No. 23) for a consideration equal to the amount of the consideration for the transfer. In consignment the consideration set forth in the Instrument is decisive. The case will not fall under Section 47-A Stamp Act. There is not summon to assess the market value thereof. Schedule I-B 23 is positive that in case of conveyance the market value, if greater, is to be crucial ; in case of transfer of lease by way of assignment as specified in Schedule I-B 63 the consideration set forth is deciding factor. The consideration at the rate of 425.00 per sqr. meter, settled by Ghaziabad Development Authority, comes at Rs. 22794.50. On this basis alone, the stamp duty is to be ascertained. This comes to at Rs. 33060.00. 5. Here it is apt to highlight a distinction between assignment of lease and an under-lease. I extract here from page 410 of Indian Stamp Act, 1889 by Sri C.N. Bhandari. 6. This article excludes an under-lease and charges only a transfer by way of assignment of the lease. This comes to at Rs. 33060.00. 5. Here it is apt to highlight a distinction between assignment of lease and an under-lease. I extract here from page 410 of Indian Stamp Act, 1889 by Sri C.N. Bhandari. 6. This article excludes an under-lease and charges only a transfer by way of assignment of the lease. A lessee has transferable rights in the lease-hold property unless prohibited by law or by contract. He has also the right to demise the lease-hold to a sub-lessee or under lessee. In case of an assignment of the lease, the assignee or the transferee becomes lessee, in place of the outgoing leasee and is directly connected with the lessor in the same manner as the original lessee was under the original lease. In the case of a under lease, the transferee is only a tenant of the lessee and is obliged to him to pay the rent etc. The transferee has not direct link with the lessor. A sub-lease or under-lease is chargeable as a lease deed under. Article 35, while an assignment of lease falls under Article 63. 7. Learned counsel submits a photocopy of an unreported case dated 25-7-1984 where also a similar opinion is expressed. 8. For the foregoing reasons, the revisions is allowed. Order of court below dated 3-5-1991 is set aside.