1990 (7) TMI 65

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....e assesses to have it valued at higher figure ?" The proceedings arise out of the estate duty assessment in respect of the estate of late Shri Kakkodam Mammu Haji. The respondent herein is an accountable person of the deceased. Kakkodam Mammu Haji died on July 13, 1968. Amongst others private forest lands in Wynad are one of the assets left by the deceased. The deceased had converted 691 acres into teak plantations. Initially, permission was obtained for clear-felling in 1954 of 50 acres. In the subsequent years also, permission was given and the total area cleared was 691 acres. This was covered by teak plantations. The plants were of varying age, 1 to 14 years. The accountable person returned the value at Rs. 69,100, i.e., at Rs. 100 p....

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.... He filed the valuation report wherein the value was fixed at Rs. 3,56,750. The Assistant Controller fixed the value, on the basis of the Inspector's report, at Rs. 24,67,500. This was not accepted in the appeal the valuer's report was accepted. The Appellate Tribunal has not stated any cogent or valid reason to discard the valuer's report. What is more, that was a report filed by the accountable person himself to substantiate his plea. The valuation finally arrived at by the Appellate Tribunal is far less than the evidence produced by the accountable person himself. It is seen from paragraph 7 of the Appellate Controller's order that at one time, the accountable person himself proposed the value of the teak plantation at Rs. 9,18,580. In s....