CONTROLLER OF ESTATE DUTY Vs. KALAWATI TIWARI

JUDGEMENT

(1.) THE Tribunal has referred the following question for opinion of this Court:

(2.) THE deceased owned a plot of land at Sarvodaya Nagar, Kanpur. The plot was values at Rs. 11,255/- by the accountable person and in doing so, she had deduced an amount of Rs. 20,634/- being 75 per cent share of the profit payable to the Nagar Mahapalika in the event of the sale, u/cl. 2(j) of the lease agreement by which the plot had been taken by the deceased. The Asst. Contlr. and the Appl. Contlr. did not accept this deduction but the Tribunal held in favour of the assessee.