BANERJEE, J.

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 :

Did the Tribunal, on the facts and in the circumstances of the case, adopt the proper basis for assessment of principal value of premises No. 226/1, Lower Circular Road, Calcutta ?

The circumstances under which the above quoted question comes up for consideration are hereinafter stated in brief : Premises No. 226/1, Lower Circular Road, Calcutta, belonged to one Kamala Prasad Jain, who died on December 21, 1959, leaving a will by which he appointed his wife, Sm. Radha Devi Jalan, as the executrix. In making the return under the Estate Duty Act, the executrix, as the accountable person, showed the value of the said premises at Rs. 1,35,000. This was apparently done on the basis of the annual value of the premises, under the Calcutta Municipal Act, which was Rs. 13,608. The Assistant Controller of Estate Duty was of the opinion that the annual value was too low and should not be utilised for the purpose of valuing the premises. He formed this opinion on the basis of local inspection of the premises from outside. In the report of local inspecti