https://www.taxtmi.com/caselaws?id=66954 For estate duty valuation of cotton-growing land, the appellate authority's rate of Rs. 3,000 per acre was upheld because the Revenue's method wrongly relied on gross sale proceeds instead of net receipts. Comparable sales of adjoining land at about Rs. 1,500 to Rs. 2,000 per acre supported the higher figure adopted on the available material. The departmental challenge to the valuation therefore failed, and the valuation allowed by the Appellate Controller remained undisturbed. en-us Tue, 17 May 1977 00:00:00 +0530 Mon, 23 Jan 2012 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66954 For estate duty valuation of cotton-growing land, the appellate authority's rate of Rs. 3,000 per acre was upheld because the Revenue's method wrongly relied on gross sale proceeds instead of net receipts. Comparable sales of adjoining land at about Rs. 1,500 to Rs. 2,000 per acre supported the higher figure adopted on the available material. The departmental challenge to the valuation therefore failed, and the valuation allowed by the Appellate Controller remained undisturbed. Case-Laws Income Tax Tue, 17 May 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66954