https://www.taxtmi.com/caselaws?id=70127 The Tribunal upheld the lower valuation of agricultural land at Rs. 8,600 for estate duty purposes, considering the long-term tenant occupation and protection under the Tamil Nadu Cultivating Tenant's Protection Act of 1973. Despite the Revenue's argument that the land could fetch a higher price due to potential development, the Tribunal emphasized assessing the market value based on the circumstances at the deceased's death and found the lower valuation fair and reasonable. The Tribunal declined the Revenue's request for reference to the High Court, stating its findings were factual and not a legal issue. 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 The Tribunal upheld the lower valuation of agricultural land at Rs. 8,600 for estate duty purposes, considering the long-term tenant occupation and protection under the Tamil Nadu Cultivating Tenant's Protection Act of 1973. Despite the Revenue's argument that the land could fetch a higher price due to potential development, the Tribunal emphasized assessing the market value based on the circumstances at the deceased's death and found the lower valuation fair and reasonable. The Tribunal declined the Revenue's request for reference to the High Court, stating its findings were factual and not a legal issue. Case-Laws Income Tax Sat, 30 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70127