https://www.taxtmi.com/caselaws?id=70127 Valuation of agricultural land had to be assessed by reference to the circumstances existing on the date of death, and the Tribunal relied on the tenant's long possession, failed eviction attempts, rent, and tenancy protection laws to reject a speculative house-site basis. The resulting fair market value was therefore drawn from proved facts and surrounding circumstances, making the Tribunal's inference a factual determination. On that basis, no referable question of law arose from the valuation finding, and refusal to direct a reference was justified. en-us Sat, 30 Aug 1975 00:00:00 +0530 Mon, 23 Jan 2012 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70127 Valuation of agricultural land had to be assessed by reference to the circumstances existing on the date of death, and the Tribunal relied on the tenant's long possession, failed eviction attempts, rent, and tenancy protection laws to reject a speculative house-site basis. The resulting fair market value was therefore drawn from proved facts and surrounding circumstances, making the Tribunal's inference a factual determination. On that basis, no referable question of law arose from the valuation finding, and refusal to direct a reference was justified. Case-Laws Income Tax Sat, 30 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70127