Law:

Section:

Section 34(1)(c), read with section 7(1), of the estate duty act, 1953-Aggregation of property for rate purposes-Whether value of share of lineal descendants of deceased in a mitakshara coparcenary is aggregable with the estate passing on the death of the deceased for rate purposes-Held, yes-Whether in view of the supreme court's decision in gurupad khandappa magdum v. Hirabai khandappa magdum [1981] 129 ITR 440 (sc), there was an actual partition on the death of the coparceners of the mitakshara joint family and cessor of interest, making section 7(1) inapplicable to the case-Held, no Facts A Mitakshara HUF, consisting of A, his wife, his son and a daughter, owned certain movable and immovable properties-While assessing the estate passing on the death of A in 1964, the Assistant Controller aggregated the value of the half share of the lineal descendant of the deceased with the estate passing on death for the rate purposes - on appeal, the Tribunal held, following the decision of the Mysore High Court in M. Ratnamala A mma v. ACED [1970] 75 ITR 238, that the said aggregation was impermissible. However, in another case, where the coparcenary consisted of the deceased and his four sons and value of the four-fifth interest of lineal descendants was aggregated by the Assistant Controller for rate purposes; the very Tribunal upheld the aggregation. The references, in the former case, at the instance of the revenue, and in the latter case, at the instance of the accountable person, were initially heard by a Division Bench, but in view of the conflicting opinions of the Tribunal, and doubt about the correctness of the decision in M. Ratnamala Amma's case (supra), the cases were referred to a larger Bench. In the reference proceedings, it was, inter alia, contended by the assessees that on a combined reading of section 6 of the Hindu Succession Act, 1956, and section 7 of the Estate Duty Act, 1953, there would be an actual partition on the death of the coparcener and cessor of interest and, therefore, there could be no aggregation of the share value of the lineal descendants under section 34(1)(c) of the Act. Held Section 34(1)( c) clearly provides for aggregation of…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492