JUDGMENT A.U. Khan, C.C.R.A. - The Facts Are : On 6-9-1990 a sale deed is executed in favour of Dharamveer Anand of a groveland No. 1316/2 area 81 acres. The consideration set forth is at Rs. 19,0000.00 ; the stamp duty paid thereon is at Rs. 27,550.00. The instrument's registration closes the transaction. 2. On 6-2-1990 Sub-registering officer submits a reference to Assistant Commissioner, Stamp to recover Stamps duty caused by under valuation in a legal action under Section 47-A, Stamp Act. A show clause notice is issued. On 24-7-1992 Dharamveer Anand files only an affidavit swearing in that 82 trees are alone in grove land. A separate stamp duty is paid for the well. The total valuation of trees comes at Rs. 19,0000,00. The grove is outside the Abadi of city area. On 7-1-1992 a spot inspection is made ; a map is prepared showing the precise situation of the land. On 24-4-1992 Assistant Commissioner, Stamps determines the value of land at Rs. 64580,00 of the trees at Rs. 4,7000.00 and of the well at Rs. 2500 00 The aggregate value comes at Rs. 7,039,80. The duty due thereon is at Rs. 1,020,80.00. Revisionist has already paid duty inform of stamps at Rs. 2,75,50.00 ; the duty furthermore to pay is at Rs. 7,45,30100. A penalty at Rs. 745300.00 is imposed. Aggrieved by the order, Dharamveer Anand lodges a revision. 3. Heard the counsel for the parties and perused the record. 4. The counsel for revisionist has argued all the points listed in the memorandum of revision, one by one. The contention is that land is agricultural and the rate applicable thereto is to determine the market value. The ardent submission is that Rs. 200.00 per sqr. meter is the circulated rate of land for Abadi. This land will take much time to develop. The map shows the grove land has rich and varied land escape. On the eastern side are new house overlooking. From a distance, the garden ; so in on the northern side. At a little distance away, on the western side, is relay centre of televisions abutting the road. On the south are residential houses and a 15 feet wide 'kharanja' road passing from east to west. The situation of groveland gives it a picturesque setting. A wearied and distracted man will find a mental pleasure that is part of health. At a little distance away, on the western side, is relay centre of televisions abutting the road. On the south are residential houses and a 15 feet wide 'kharanja' road passing from east to west. The situation of groveland gives it a picturesque setting. A wearied and distracted man will find a mental pleasure that is part of health. How do I wish I could sit for a while musing over wasted time and lost opportunities in life's sluggish march to the present. 5. The present use of land is not soley decisive of it's market value. On this I have AIR 1988 S.C. 943 on my side : "The determination of market value of a land with potentialities for urban use is an intricate exercise which calls for collection and collation of diverse economic criteria. The market value of a piece of property, for purposes of Section 23, Land Acquisition Act is stated to be the price at which the property changes hands from a willing seller to a willing but not too anxious a buyer, dealing at arms length. The determination of market value is the prediction of an economic event, viz. the price-out come of a hypothetical sale, expressed in terms of probabilities. Prices fetched for similar lands with similar advantages and potentialities under bona fide transactions of sale at or about the time of the preliminary notification are the usual and indeed the best evidences or market value. Other methods of valuation are resorted to if the evidence of sale of similar lands is not available." 6. Dharamveer Anand has set at Rs. 50.00 per sqr meter as it's market value in the instrument. Sub-Registering Officer proposes at Rs. 150.00 per sqr meter. Additional, Collector (F & R) has gone by at Rs. 200.00 per sqr meter. Me think land will still take time to develop to it's full potential use for abadi, if that rate is to go by. Counsel submits that an example of land suggests it's value should be at Rs. 100.00 per sqr meter. This is not proximous in time and place. Having considered all submissions and the situation me think that value should set at Rs. 125.00 per sqr. meter for the land. In the final analysis the rate applicable is a guess work and precision is elusive. By this scale the value comes at Rs. 125 X 3280 sqr. This is not proximous in time and place. Having considered all submissions and the situation me think that value should set at Rs. 125.00 per sqr. meter for the land. In the final analysis the rate applicable is a guess work and precision is elusive. By this scale the value comes at Rs. 125 X 3280 sqr. meters Rs. 31,900.00 in the form of stamps. The amount of penalty at Rs. 7,45,300.00 is not supportable in law. 7. Revisions is allowed. Order of court below dated 24-4-1992 is set aside. The penalty at Rs. 7,45,300.00 is set aside. The stamp duty is reduced from Rs. 7,45,300.00 to Rs. 3,19,00.00.