Stamp Act, 1899–Sec. 47-A–Scope–Market value of the property subject matter of an instrument produced for registration has to be assessed on the basis of nature of the property as on the date of execution of the instrument–Possible future use of property is not relevant–In the instant case, property in question was agricultural land at the time of execution of sale deed and registration thereof–Held, stamp duty could not have been determined by treating it residential/commercial.
