Tribunal held that normally the fixation of minimum value of land is well below the fair market value. The Sub-Court had fixed land value at Rs. 8,000 per cent in 1982 and this was upheld by the High Court. Therefore, the valuation report submitted by the Valuation Officer could not be taken as totally correct. The Assessing Officer had initially proposed Rs. 9.30 lakhs as the fair market value as on April 1, 1981 and considering that this was a very old case, the sum of Rs. 9.30 lakhs as the fair market value as on April 1, 1981 was adopted. The sum of Rs. 9.30 lakhs would include cost of improvement such as compound wall, two wells, fruit bearing trees etc. Therefore, the fair market value adopted as on April 1, 1981 would be Rs. 9.30 lakhs instead of Rs. 6 lakhs adopted by the Commissioner (Appeals) for the purpose of computation of long-term capital gains.( AY.1995-96)