Law:

Section:

Section 7 read with section 40 of the Estate Duty Act, 1953 - Interest ceasing on death - In terms of partition deed executed between deceased and his three sons, deceased was entitled to possess and enjoy certain property during his lifetime - Said deed provided that in event of said property being acquired by Government during his lifetime, there would be division in compensation awarded for such acquisition in four equal parts - Subsequently, notification under section 4 of Land Acquisition Act was published on 23-5-1962 - In mean time deceased died on 5-6-1963 and compensation award was passed after his death on 29-7-1963 - Whether since award in respect of property in question was made only after death of deceased, during his life time property continued in his possession and enjoyment - Held, yes - Whether deceased had interest in property which ceased on his death and, therefore, it came within scope of section 7 read with section 40 - Held, yes Section 11, read with section 2(15) of the Estate Duty Act, 1953 - Limited interests disposed of within certain period before death - Under a deed of partition certain property was allotted to deceased - As per said deed deceased was to be in possession and enjoyment of said property during his lifetime and after his death it was to be taken by his sons in equal shares with absolute right - However, said property was acquired during lifetime of deceased - On death of deceased, compensation amount was partitioned amongst his sons - Whether interest of deceased would attach to compensation payable under Land Acquisition Act and as compensation received and divided within statutory period, section 11(1)(b) was attracted - Held, yes FACTS The deceased 'G' died on 5-6-1963. There was a partition, by virtue of a deed executed on 7-5-1960, between the deceased and his three sons. Under the partition, 'G' was allotted certain properties including the family bungalow. This property was bounded on 3 sides by other properties belonging to the same parties which had been acquired by the Government at that time. The partition deed provided that if, during the lifetime of 'G', the said property was acquired by the Government…

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