https://www.taxtmi.com/caselaws?id=57694 Estate duty valuation must be based on objective market material and comparable evidence. The land appurtenant to the factory premises was valued by reference to the earlier purchase price, Sub-Registrar market data and town planning rates, and the appellate authority's figure was upheld as reasonable. By contrast, the Department's enhanced construction cost estimate lacked comparable cases or a convincing basis, while the registered valuer's detailed report on the buildings and materials remained unrebutted, so the assessee's valuation of construction cost was accepted substantially. en-us Tue, 01 Apr 1980 00:00:00 +0530 Mon, 13 Dec 2010 10:19:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57694 Estate duty valuation must be based on objective market material and comparable evidence. The land appurtenant to the factory premises was valued by reference to the earlier purchase price, Sub-Registrar market data and town planning rates, and the appellate authority's figure was upheld as reasonable. By contrast, the Department's enhanced construction cost estimate lacked comparable cases or a convincing basis, while the registered valuer's detailed report on the buildings and materials remained unrebutted, so the assessee's valuation of construction cost was accepted substantially. Case-Laws Income Tax Tue, 01 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57694