While this axe does seem to correspond to Qajar ceremonial form examples, it also very much resembles crescent head axes of the Rajputs (Jaipur Rajasthan) of the 18th century. It is suggested that these were not widely favored for combat, and the features of this axe seem less elaborate than the earlier examples which had more formidable features such as spikes at the top or poll. The overall appearance seems to indicate probably 19th century and in examining the markings on the poll, they seem to correspond more to Sanskrit (Devanagari) characters.
I would submit this piece may more likely be a ceremonial item, probably from Rajasthan during the 19th century and quite probably reflecting influence of the earlier Rajput examples.
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