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Issues: Whether the site and superstructure standing in the name of the accountable person formed part of the estate of the deceased and were liable to estate duty on the footing that the deceased was the real owner in a benami arrangement.
Analysis: Estate duty under section 5(1) of the Estate Duty Act, 1953 is chargeable on property passing on death, and section 6 operates only in respect of property which the deceased was competent to dispose of. Where a transaction is benami, the nominal holder has no beneficial interest and holds the property for the real owner; the court must give effect to the real title and not the ostensible title. On the facts found, the deceased had provided the funds and retained real ownership and control, while the accountable person held the property in trust for him. The property therefore belonged to the deceased and was includible in the principal value of his estate.
Conclusion: The question was answered against the accountable person and in favour of the Revenue; the house property was rightly includible in the estate of the deceased.
Ratio Decidendi: In a benami arrangement, estate duty is attracted on the death of the real owner, because the beneficial ownership and power of disposition remain with him notwithstanding the property standing in another's name.
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