Law:

Section:

Section 10, read with section 13 of the Estate Duty Act, 1953 - Gifts - Whenever made where donor not entirely excluded - Assistant Controller while determining property passed on death of deceased to accountable person included National Saving Certificates (NSC) having face value of Rs. fifty thousand purchased by deceased in joint names of himself and his wife - Case of accountable person was that amount of NSC had been gifted to her by deceased more than two years before his death hence same could not be regarded as property of deceased - Whether since NSC was purchased by deceased out of his own funds and certificate stood in joint names of deceased and his wife and further beneficial interest in certificates arose to accountable person by survivorship, it could be concluded that amount of NSC passed on death of deceased - Held, yes Section 14 of the Estate Duty Act, 1953 - Policies kept up for a donee - While determining property passed on death of deceased, Assistant Controller included amount of insurance policies which was taken on life of deceased and later assigned to his wife - Accountable person objected inclusion of policy amount contending that amount of policies had been gifted to her by deceased more than two years before his death - Whether burden of proving that amount of policies either wholly or partly did not pass on death of deceased was on accountable person and she having failed to discharge said burden, it must be held that whole amount of insurance policies passed on death of deceased - Held, yes FACTS The estate duty assessment pertained to the assessment of the property of the deceased, who died on 26-11-1957. His widow, as the accountable person, furnished to the Assistant Controller, a statement of the property passing on the death of the deceased. The Assistant Controller included in the property of the deceased liable to estate duty the following items amongst others- (i)National Savings Certificates of the face value of Rs. 50,000 purchased by the deceased in the joint names of himself and his wife. The encashable value of these securities was Rs. 62,300 on the date of death of Nandlal Sud; (ii)Rs. 33,694 being the amount of…

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