https://www.taxtmi.com/caselaws?id=71158 Estate duty valuation turned on whether agricultural land, a residential house and a rented house were fairly assessed where direct market evidence was lacking. The Tribunal accepted a downward revision of the agricultural land value on an intermediate estimate, valued the residential house at a lower figure based on available circumstances, and upheld the assessee's rental-based method for the rented house. On aggregation, it applied the statutory scheme for Hindu joint family property and followed the majority view that the interests of lineal descendants are aggregable for rate purposes under section 34(1)(c), subject to relief already allowed. en-us Wed, 23 Apr 1980 00:00:00 +0530 Thu, 21 Apr 2011 16:24:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71158 Estate duty valuation turned on whether agricultural land, a residential house and a rented house were fairly assessed where direct market evidence was lacking. The Tribunal accepted a downward revision of the agricultural land value on an intermediate estimate, valued the residential house at a lower figure based on available circumstances, and upheld the assessee's rental-based method for the rented house. On aggregation, it applied the statutory scheme for Hindu joint family property and followed the majority view that the interests of lineal descendants are aggregable for rate purposes under section 34(1)(c), subject to relief already allowed. Case-Laws Income Tax Wed, 23 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71158