Coparcenary property valuation for estate duty requires lineal descendants' share to be aggregated for rate purposes.

Exemption under section 33(1)(n) of the Estate Duty Act applies only to the deceased's own share in property passing on death. In coparcenary or Hindu undivided family property, the share of lineal descendants is not covered by that exemption. For rate purposes under section 34(1)(c), that share must be aggregated with the principal value of the estate. The Court rejected the Tribunal's earlier view and answered the question against the assessee, in favour of the Revenue.

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Issues: Whether the share of lineal descendants in the self-occupied portion of coparcenary property was liable to be excluded from the principal estate for rate purposes under section 34(1)(c) of the Estate Duty Act, 1953.

Analysis: The exemption under section 33(1)(n) applies only to the share of the deceased in property that passes on death. Where the property is Hindu undivided family or coparcenary property in which lineal descendants have an interest, the descendants' share is not covered by the exemption. Under section 34(1)(c), the value of that share is required to be aggregated with the principal value of the estate for the purpose of determining the rate of duty. The earlier view applied by the Tribunal was not accepted in light of the binding interpretation already adopted by the Court.

Conclusion: The share of lineal descendants in the self-occupied portion was not liable to be excluded for rate purposes, and the question was answered against the assessee and in favour of the Revenue.

Ratio Decidendi: The exemption for self-occupied property under section 33(1)(n) is confined to the deceased's own share, and the lineal descendants' interest in coparcenary property must be aggregated under section 34(1)(c) for rate purposes.

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