417 : Circular No. 417, dated 26-04-1985

SECTION 6 l VALUATION OF GIFTS

1454. Valuation  of agricultural land comprised in tea, coffee, rubber and cardamom plantations - Whether guidelines laid down in Circular No. 357 are to apply for the purposes of gift-tax

The Board have decided that the guidelines for valuation of coffee plantations laid down in Circular No. 357, dated 26-5-1983 for wealth-tax purposes may be made applicable for valuation of such assets in respect of pending cases in the State of Karnataka under the Estate Duty and Gift-tax Acts also.