SHANTIRAJ B K Vs. CONTROLLER OF ESTATE DUTY

JUDGEMENT

(1.) THE estate duty assesssment pertains to the estate of lat Chandraraja Savantha Madda Hegde, who did on 29th June, 1955. Shir B. K. Shantiraj, son of the deceased, furnished to the Assistant Controller of Estate Duty, Banglore, who was the assessing authority, an account of property passing on the death of the deceased.

(2.) THE deceased's assets, amongst others, consisted of agricultural lands which were situated in Udipi and Mangalore taluks of South Canara which were all leased to tenants. THE accountable person showed the value of these lands in the estate duty return at Rs. 1,71,390. THE Assistant Controller considered that the lands were grossly under-valued. THE accountable person contended that some lands in those areas were sold for lower prices. THE Assistant Controller, however, rejected the accountable person's contention as the extent of the lands sold and their yield was not furnished by him and also as the sales were effected in 1959, i.e., nearly four years after the date of valuation in this case. On the basis of the reports from the Tahsildars, the Assistant Controller fixed the value of those hands at Rs. 3,44,160. THE assessement was accordingly completed fixing the principal value of the estate at Rs. 3,95,036. A copy of the assessment order is annexure "C" and forms part of the case.

(3.) FOR the reasons mentioned in paragraph 10 to 14 of their order dated the 13th February, 1962, the Board rejected the accountable person's contention. On the basis of the gross annual yield, as intimated by the Assistant Controller in his report and accepted by the accountable person, the Board fixed the market value of those lands at Rs. 3,00,000 as worked out in paragraph 15 of their order. A reduction of Rs. 44,160 was accordingly allowed. A copy of the order of the Board is annexure "A" and forms part of the case.