Estate duty exemption applies to insurance proceeds even if the policy assignment is forwarded after the prescribed period. The exemption under section 33(1)(f) applies to money payable under an insurance policy assigned for payment of estate duty irrespective of whether the policy was forwarded to the Controller within the three month period prescribed by Rule 31 A; consequently the Controller may accept a policy on behalf of the President even if it was not deposited within that period.
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 exemption applies to insurance proceeds even if the policy assignment is forwarded after the prescribed period.
The exemption under section 33(1)(f) applies to money payable under an insurance policy assigned for payment of estate duty irrespective of whether the policy was forwarded to the Controller within the three month period prescribed by Rule 31 A; consequently the Controller may accept a policy on behalf of the President even if it was not deposited within that period.
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