The date on the coin must be intended for AH1203/Ry.31. However this is, what I call, a pseudo Dar al-Khilafat Shahjahanabad mint. It was not struck at the Imperial mint of the capital Shahjahanabad.
An example of an Imperial issue can been seen on
ZENO.
Where these coins were struck it still a question on which no documentation has been found, nor consensus has been reached.
I my opinion it must be in a locality east of the Jamuna. There are a few candidates, like the village Ahmedabad (a mint found on coins of Bedar Bakht) between Meerut and Sardhana and also Sardhana would be possible (the capital of Begum Somru. She struck also rupees with the mint name
Dar al-zafar Zebabad). The strongest candidate for me is Meerut.
Below a couple of rupees with the mint name Dar al/Khilafat Shahjahanabad.
1124-31, this date must be 1204/Ry.31. The coin was struck after the re-installation of Shah Alam II, but still without the Imperial umbrella. Another possibility is that it wasn´t struck at the Imperial mint.
1203-31, this is an issue of pseudo Dar al-Khilafat Shahjahanabad mint and this coin is similar to the coin of Bhushan shown above.
1205-33, this is an Imperial issue, struck at the capital.
1205-33, with symbol Ain added. A typical issue of a pseudo Dar al-Khilafat Shahjahanabad mint.
12xx-38, with symbol He added, also a typical issue of a pseudo Dar al-Khilafat Shahjahanabad mint.