https://www.taxtmi.com/caselaws?id=20682 Estate duty valuation of land must account for material differences from comparable sales. A very large contiguous parcel cannot ordinarily be valued at the same rate as a much smaller plot, so an appropriate size-based deduction was required. Survey No. 39 was valued consistently with the assessee's own lower figure. Jamsie Villa also could not be valued at the full comparable rate because of its limited frontage, one-fifth ownership structure, tenants, licensees and pending litigation; these disadvantages justified a further reduction. The ratio is that comparable-sale rates cannot be mechanically applied where the subject property is materially less advantageous. en-us Thu, 04 Mar 1993 00:00:00 +0530 Mon, 16 Nov 2009 15:37:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20682 Estate duty valuation of land must account for material differences from comparable sales. A very large contiguous parcel cannot ordinarily be valued at the same rate as a much smaller plot, so an appropriate size-based deduction was required. Survey No. 39 was valued consistently with the assessee's own lower figure. Jamsie Villa also could not be valued at the full comparable rate because of its limited frontage, one-fifth ownership structure, tenants, licensees and pending litigation; these disadvantages justified a further reduction. The ratio is that comparable-sale rates cannot be mechanically applied where the subject property is materially less advantageous. Case-Laws Income Tax Thu, 04 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20682