(R.D. Notification No. 7359145, -dated 22nd March 1949)
(B.G. G. Part IV - A, dated 31-3-49 pp. 348-50).
In exercise of the powers conferred by sub-section (8) of section 91-H of the Court-fees Act, 1870 (VII of 1870), in its application to the Province of Bombay, the Government of Bombay, is pleased to make the following rules, namely
1. These rules may be called the Bombay Probate Valuation Rules, 1949.
2. In these rules-
(a) "Act" means the Court-fees Act, 1870, in its application to the Province
Bombay;
(b) "Petitioner" means a person who has applied to the Court for the grant of
Probate of a will or Letters of Administration;
(c) "Property" means moveable and immoveable property of the deceased;
(d) "Section" means a section of the Act;
(e) "Schedule" means the schedule of assets attached to the application for grant of probate or letters of administration as required by section 19-1 of the Act;
3. On receipt of a notice of an application, for probate or letters of administration from the High Court under sub-section (2) of section 19-H, the Chief Controlling Revenue Authority may intimate to the Collector within the local limit of whose revenue jurisdiction the property of the deceased is situate that he has received such notice.
4. (1) On receipt of a notice from Court under sub-section (1) of section 19-H on receipt of an intimation from the Chief Controlling Revenue Authority under Rule 3, Collector shall at once proceed with the verification of the valuation of the property as specified in the Schedule.
(2) In the City of Bombay, the Collector of Bombay may require the Superintendent of Bombay City Survey and Land Record to assist him in verifying the correctness of the valuation of immoveable properties specified in the Schedule.
5. If the Collector has not received a copy of the schedule along with the notice at intimation, he shall obtain such copy from the Court or the Chief Controlling Revenue Authority, as the case may be.
6. If the estate of the deceased includes properties situated in several districts, the Collector shall send a copy of the Schedule to the Collector within the limits of whose jurisdiction any part of the estate is situated and obtain from him a report of the valuation of that part.
7. The Collector may require the petitioner to furnish a detailed statement of valuation of the business assets of the deceased or of the share of the deceased in the business or partnership firm.
8. The Collector may require the petitioner to produce any writing or document in regard to the share of the deceased in the business or firm and also to furnish a separate valuation of the assets, stock-in-trade, goodwill, out-standing due to the deceased and any other item relating to the business or firm.
9. The Collector may require the petitioner to produce for inspection, account books, cash books, profit and loss statements, statement showing payment of taxes on income and to furnish true copies of extracts there from, if required for the purpose of ascertaining the correctness of the valuation.
10. The Collector may require the petitioner to produce evidence a list of ornaments, jewellery, and any other valuable articles mentioned in the schedule together with a detailed statement of their valuation.
11. The Collector may require the petitioner to produce evidence by an expert valuer or any other person deemed fit by the Collector, to satisfy him about the valuation made, by the Petitioner.
12. If any valuable articles are lodged in a safe deposit vault or deposited in any other place for safe custody, the Collector may require the petitioner to furnish a list thereof with their detailed valuation.
13. The Collector may require the petitioner to produce detailed information in respect of rents, profits, dividends, debts and other dues to be recovered.
14. The Collector may ascertain the basis on which the value of the property is assessed and for this purpose he may require the production of account books, profit and loss accounts, registers or any other documents which in his opinion are necessary in arriving at the correct valuation of the estate of the deceased.
15. If the petitioner fails to produce any evidence or documents or furnish any statement or information as required by the Collector under any of the foregoing rules, the Collector shall proceed with the valuation of the property on the date available to him without delay.
16. Whenever it is ascertainable the ' valuation of the property shall be based by the Collector on the market value thereof prevailing on the date on which an application for probate or letters of administration is made.
17. If after examining the valuation of the property in accordance with the forgoing rules the Collector finds that the value of the property has been underestimated, he may require the attendance of the petitioner (either in person or by an agent) and take such evidence and inquire into the matter in such manner as he may think fit.
18. The service of the Assistant or Deputy Collector or the Mamlatdar or any subordinate revenue Officer may be utilised by the Collector in obtaining such information as may be necessary to determine whether an inquiry under Rule 17 should be held by him.
19. The Collector shall complete the inquiry about the valuation of the property under these rules within a period of four months from the date of the receipt of the notice from the Court or the intimation from the Chief Controlling Revenue Authority, as the case may be. If the proceedings are delayed on any account he shall report periodically from the Chief Controlling Revenue Authority or the Court, as the case may be, till the valuation work is complete.
20. If after an inquiry under these rules the Collector has asked the petitioner to amend the valuation, the Collector shall at once communicate his action to the Court with a request to intimate to him whether the amendment has been made or not.
21. If the valuation is amended as required by the collector but additional fee is not paid to the Court, or the tendered to the Collector, the Collector shall report the case to the Chief Controlling Revenue Authority for an order under section 19-G.
22. A register in form "A" appended to these rules shall be kept in every Collector's Office.
