https://www.taxtmi.com/caselaws?id=67449 Amounts payable under a life insurance policy wholly kept up by the deceased were treated as property passing on death and included in the estate at maturity value, not merely at surrender value. The valuation was taken with reference to the date immediately following death, and the deceased's retained beneficial interest and control supported inclusion of the full policy amount. A separate estate treatment for the difference between maturity and surrender value under section 34(3) of the Estate Duty Act, 1953 was rejected, as the full amount payable under the policy formed part of the estate. en-us Mon, 10 Dec 1984 00:00:00 +0530 Thu, 10 Mar 2011 16:41:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67449 Amounts payable under a life insurance policy wholly kept up by the deceased were treated as property passing on death and included in the estate at maturity value, not merely at surrender value. The valuation was taken with reference to the date immediately following death, and the deceased's retained beneficial interest and control supported inclusion of the full policy amount. A separate estate treatment for the difference between maturity and surrender value under section 34(3) of the Estate Duty Act, 1953 was rejected, as the full amount payable under the policy formed part of the estate. Case-Laws Income Tax Mon, 10 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67449