CONTROLLER OF ESTATE DUTY Vs. RADHA DEVI JALAN

JUDGEMENT

(1.) THIS is a reference under section 6(3) of the Estate Duty Act, 1953.

(2.) THE question of law referred to this court is :

(3.) FROM the aforesaid figure, he deducted the outstanding liablility under the mortage of the property to Bata Shoe Co. Ltd. and arrived at the valuation of Rs. 5,00,000 for the premises. According to the calculations by the Assistant Controller, the principal value of the property, whether estimated on the land and building method or under the rental value method, yielded the same result.