Interest under Section 64(7) governs refunds after estate valuation reductions; administration prescribes a uniform rate. Refunds payable after a High Court reduction in estate value give rise to interest under Section 64(7) of the Estate Duty Act; the section does not prescribe a rate. Administrative instruction states that, on consideration, it is reasonable to allow interest at a specified uniform rate for such refunds.
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Provisions expressly mentioned in the judgment/order text.
Interest under Section 64(7) governs refunds after estate valuation reductions; administration prescribes a uniform rate.
Refunds payable after a High Court reduction in estate value give rise to interest under Section 64(7) of the Estate Duty Act; the section does not prescribe a rate. Administrative instruction states that, on consideration, it is reasonable to allow interest at a specified uniform rate for such refunds.
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