Estate duty notification requirement: officers must promptly report an assessee's death and share asset valuation with relevant officers. Officers who learn of an assessee's death must notify the Assistant Controller of Estate Duty and provide information relevant to estate duty assessment where the estate's principal value is likely to exceed the threshold. The Assistant Controller must prepare lists of devolving assets with market values for estate duty purposes and communicate those lists to the ITO/WTO having jurisdiction over the accountable persons, and must inform officers of any information relevant to assessment under other direct tax laws.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Estate duty notification requirement: officers must promptly report an assessee's death and share asset valuation with relevant officers.
Officers who learn of an assessee's death must notify the Assistant Controller of Estate Duty and provide information relevant to estate duty assessment where the estate's principal value is likely to exceed the threshold. The Assistant Controller must prepare lists of devolving assets with market values for estate duty purposes and communicate those lists to the ITO/WTO having jurisdiction over the accountable persons, and must inform officers of any information relevant to assessment under other direct tax laws.
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