This paper examines the relative efficiency of the alternative forms of land tenure in irrigated boro rice production with a sample of 124 farms. Inter-tenure comparison revealed that there were no major differences in resource use and yield among the specified tenure groups. However, owner-tenant farms obtained highest yield, gross and net return per acre while yield of crop, gross and net return per acre were lowest for the pure tenant farms. Comparative analysis of the owned and rented components of the same owner-tenant farms revealed that they used more of all the inputs and obtained higher yield on owned land than on rented land. Thus the evidence lend support to the Marshallian proposition that share tenancy results in under-utilization of resources and hence is an inefficient form of tenure arrangement.