2001 (3) TMI 13

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... question has been referred for the opinion of this court under section 64(1) of the Estate Duty Act, 1953 (in short "the Act"), by the Income-tax Appellate Tribunal, Delhi Bench "B": "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in taking the view that 50 per cent. of the unearned increase in the value of the land payable to the lessor is admissib .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ld basis and addition thereto of land value. The Tribunal was of the view that after working out the value of the building on rental yield basis, there was no necessity for further adding the reversionary value of land. Accordingly, it was held that the value of the land as added was to be excluded and only valuation on the rental yield basis was to be adopted. For coming to such conclusion, the T .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... l yield basis, the question of land value and/or any increase thereto, more particularly unearned increase in the value is really of no consequence. That being the position, the Tribunal's conclusions are in order. We answer the question referred in the affirmative, in favour of the Revenue and against the accountable person. The reference application is disposed of.
Case laws, Decisions, Jud .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X