Law:

Section:

Section 33, read with sections 39 and 34, of the Estate Duty Act, 1953 – Exemptions – Whether for purpose of determining value of share of member of joint Hindu family and for purpose of imposing estate duty on his estate after his death, first of all, total value of all properties valuing each of them separately must be determined under section 39(3) and thereafter such of those properties to extent to which exemption has been given under various clauses in section 33(1) will be taken out to that extent – Held, yes – Whether aggregate of remaining must be divided as if at time of death there was partition and share due to deceased determined and share so determined will be share on which duty can be imposed under Act and on no other – Held, yes - Whether where deceased had left behind lineal descendants, by virtue of provision in section 34(1)(c ), extent of shares of lineal descendants of deceased has to be aggregated to share of deceased in property and rate applicable to aggregated value of that estate will have to be taken into account – Held, yes - Whether if value of property that passed is less than Rs. 1 lakh, exemption would have to be limited to value of property – Held, yes (Matter remanded) FACTS A member of the Hindu undivided family governed by the Mitakshara law died. The other members of the family were his only son and the deceased's widow. The total estimated value of the properties, arrived at by applying the principle in section 36 was Rs. 2 lakhs. Out of Rs. 2 lakhs worth of joint family properties, a bulk of it was contributed by a residential house in which the deceased lived with his son and wife and the condition necessary for getting exemption under section 33(1)(n) that it should have been exclusively used by the deceased for his residence was assumed during the proceedings. The value of the house had exceeded Rs. 1 lakh, and the house being situated in a place having a population of much more than ten thousand, the exemption which was claimable by the accountable person must be limited to Rs. 1 lakh. The Tribunal held that the exemption provided in section 33(1)(n) should be allowed in respect of the dwelling house of the HUF from…

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