Provision

Whoever makes or performs any part of the process of making, or buys, or sells, or disposes of, any instrument for the purpose of being used, or knowing or having reason to believe that it is intended to be used, for the purpose of counterfeiting any stamp issued by Government for the purpose of revenue, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.


Simply put

The section penalizes preparation to commit a crime, it says that whoever either makes or performs any part of the process of making, or buys, or sells, or disposes of, any instrument for the purpose of being used for counterfeiting any government stamp issued for revenue, or either knowing or having reason to believe that the intention of the same is to use it for the purpose of counterfeiting any such stamp, shall be punished with simple or rigorous imprisonment for a term extending up to seven years, and shall also be liable to fine.



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