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TMI Blog1980 (4) TMI 211X X X X Extracts X X X X X X X X Extracts X X X X ..... ntrl. Moreover this ground was not taken also in the grounds of appeal and the ground had been taken long after the appeal was filed and so we reject this ground as not maintainable. 3. Ground no. 1 in the grounds of appeal relates to the valuation of agricultural land. The ACED has mentioned that the accountable person showed the value of this agricultural land at Rs. 3,000. He has also mentioned that for lack of evidence he estimated the value at Rs. 2,000 per bigha and, therefore, determined the value at Rs. 10,000. On appeal before the Appellate Controller it was submitted that this agricultural land was purchased on 18th March, 74 for Rs. 3,000 and the death of the deceased took place on 20th Oct., 76 and so the value of this land co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial house. The learned Counsel for the accountable person has submitted that the residential house is 25 years old. Taking into consideration this circumstance we hold that the valuation of the residential house should be taken at Rs. 50,000. The accountable person thus gets a relief off Rs. 10,000. 1/3rd of Rs. 50,000 will be exempt. The balance 2/3rd of Rs. 50,000 will be taken as the value of the share of the lineal descendant. 7. The next ground of the accountable person related to the valuation of rented properties. The Asstt. CED has pointed out that the deceased had one house at Katihar which was on rent. The net rental of this house according to the income-tax records was Rs. 8,821. The accountable person showed the value of this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... justified. 11. The learned counsel for the accountable person has filed a copy of the order of the ITAT, Nagpur Bench, in EDA Nos. 16 and 19(Nag) of 1975-76 where the Tribunal held following the decision of the Madras High Court reported in 91 ITR 24 that the lineal descendant's share cannot be included in the principal value of the estate of the deceased for rate purposes. However, the learned counsel for the accountable person has filed copies of the orders of this Tribunal in EDA No. 9 (Pat) of 1975-76 and EDA No. 17 (Pat) of 1978-79. EDA No. 9(Pat) of 1975-76 shows that the Tribunal held that the whole of the joint family property belonged to the deceased and so exemption provided in the Act has to be considered by finally considering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e taken for rate purposes. s. 34(1)(c) of the said Act lays down that for the purpose of determining the rate of the estate duty to be paid on the death of the deceased in the case of property so passing which consists of a coparcenary interest in the joint family property of a Hindu family governed by the Mitakshara law, also the interests in the joint family property of all the lineal descendants of the deceased member shall be aggregated so as to form one estate and estate duty shall be levied thereon at the rate or rate applicable in respect of the principal value thereof. The only decision which is in favour of the assessee is in the case of V. Devaki Ammal vs. Asstt. Controller of Estate Duty Madras (1), where it has been held that s. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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