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of <h1>Supreme Court Clarifies Estate Duty Act: Liability Arises on Real Owner's Death, Not Benamidar's, Resolving Conflicts.</h1> Sections 5 and 6 of the Estate Duty Act, 1953 clarify the assessment of properties held under benami transactions. The Supreme Court ruled that estate duty liability arises upon the death of the real owner, not the benamidar, who is merely the ostensible owner. This judgment resolves conflicting views from various High Courts, affirming that the real owner holds the title and can manage the property without involving the benamidar. Consequently, estate duty is applicable on the death of the real owner, aligning with the Supreme Court's interpretation and overriding previous dissenting judgments.
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