1975 (8) TMI 73

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...., Madras requires the Tribunal to refer the following questions of law, said to arise out of the Tribunal's consolidated order, dt. 29th Oct., 1974, in E.D.A. was 62 to 68 of 1973-74 to the Hon'ble High Court for opinion of their Lordships :- (i) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in directing to adopt the value of the lands at, 'Ponmeni" a....

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....of conversion of agricultural lands into building sites very near to the land in question, he adopted the valuation rate of s. 500 pre cent and estimated the market value of the lands at Rs. 75,000. 3. On appeal, the Appellate Controller of Estate Duty held that the land in the occupation of a cultivating tenant for a long period of 80 years and in view of the protection conferred on the tenant....

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....ion show at Rs. 8,600. 5. The Tribunal held as under :- The market value of the land has to be determined with reference to the circumstances prevailing on the date of death of the deceased. The land in question is admittedly in possession of the tenant for the last 30 years. The deceased filed a petition for evicting the tenant under s. 3(4)(a) of the Madras Cultivating Tenants Protection A....

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....e rigour of the tenancy laws (The Tamil Nadu Cultivating Tenants Protection Amendment Act, 1973), which enables the tenant to acquire ownership of the property on payment of 12 times the annual lease amount, the valuation of Rs. 8,600 shown by the accountable person is fair and reasonable and the same should be accepted. 6. The above finding of the Tribunal is purely a finding of fact based on ....