https://www.taxtmi.com/caselaws?id=66646 The tribunal ruled that compensation received under a personal accident insurance policy, where the deceased had no right to the amount during his lifetime, should not be included in the principal value of the deceased's estate. Citing legal precedents, including decisions by various High Courts and the Supreme Court, the tribunal held that such compensation should be treated as a separate estate if included, not aggregated with the principal estate. Consequently, the tribunal allowed the appeal in favor of the accountable person, exempting the sum of Rs. 60,300 from inclusion in the deceased's estate value. en-us Fri, 09 Jan 1987 00:00:00 +0530 Sat, 05 Mar 2011 13:31:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66646 The tribunal ruled that compensation received under a personal accident insurance policy, where the deceased had no right to the amount during his lifetime, should not be included in the principal value of the deceased's estate. Citing legal precedents, including decisions by various High Courts and the Supreme Court, the tribunal held that such compensation should be treated as a separate estate if included, not aggregated with the principal estate. Consequently, the tribunal allowed the appeal in favor of the accountable person, exempting the sum of Rs. 60,300 from inclusion in the deceased's estate value. Case-Laws Income Tax Fri, 09 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66646