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Section 9 read with sections 2(15) and 27 of the Estate Duty Act, 1953 - Gifts within certain period before death - Whether premia paid by deceased within a period of two years before his death in respect of a policy taken by him under Married Women's Property Act, 1874, were not to be included in principal value of estate of deceased under provisions of section 9 read with sections 27 and 2(15) - Held, yes FACTS Insurance policies were taken out under the 1874 Act by the deceased. While computing the value of the principal estate of the deceased, the Assistant Controller included the premia paid by the deceased in respect of the policies within two years before the death of the deceased. The Tribunal had taken the view that no estate duty liability arose in regard to the aforesaid premia under section 9. On reference : HELD In view of the decision in CGT v. Seth Arvind N. Mafatlal [1990] 184 ITR 580, the Tribunal was justified in holding that premia paid by the deceased within a period of two years before his death in respect of a policy taken by him under the 1874 Act, were not to be included in the principal value of the estate of the deceased under the provisions of section 9 read with section 27 and section 2(15). Note : The case was decided in favour of the accountable person. CASE REFERRED TO CGT v. Seth Arvind N. Mafatlal [1990] 184 ITR 580 (Bom.). Dr. V. Balasubramanian, J.P. Devadhar and K.C. Sidhwa for the Applicant. S.J. Mehta and I.M. Munim for the Respondent. JUDGMENT B.N. Srikrishna, J.-The Tribunal has referred the following question under section 64(1) of the Estate Duty Act, 1953, for the opinion of this court. That question is : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that premia amounting…

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