Indian Stamp Act : POWER OF PAYER TO STAMPED BILLS AND PROMISSORY NOTES RECEIVED BY HIM UNSTAMPED Indian Bare

Indian Stamp Act,1899

Act No : 2

Section : POWER OF PAYER TO STAMPED BILLS AND PROMISSORY NOTES RECEIVED BY HIM UNSTAMPED

SECTION 47: POWER OF PAYER TO STAMPED BILLS AND PROMISSORY NOTES RECEIVED BY HIM UNSTAMPED
When any bill of exchange or promissory note chargeable with a duty not exceeding ten naye paise is presented for payment unstamped, the person to whom it is so presented, may affix thereto the necessary adhesive stamp, and, upon cancelling the same in manner hereinbefore provided, may pay the sum payable upon such bill or note, and may charge the duty against the person who ought to have paid the same, or deduct it from the sum payable as aforesaid, and such bill or note shall, so far as respects the duty, be deemed good and valid:
Provided that nothing herein contained shall relieve any person from any penalty or proceeding to which he may be liable in relation to such bill or note.