Residential house exemption: determine deceased's share first, then allow proportionate exemption under estate duty rules. The Board advised that the deceased's share in the principal value of joint family property should be determined first and then the proportionate residential house exemption under Sec.33(1)(n) allowed from that share, because the statutory valuation provision is to be invoked only for the limited purpose of estimating principal value and only provisions bearing on that estimation should apply.
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.
Residential house exemption: determine deceased's share first, then allow proportionate exemption under estate duty rules.
The Board advised that the deceased's share in the principal value of joint family property should be determined first and then the proportionate residential house exemption under Sec.33(1)(n) allowed from that share, because the statutory valuation provision is to be invoked only for the limited purpose of estimating principal value and only provisions bearing on that estimation should apply.
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