https://www.taxtmi.com/caselaws?id=67454 Accident-linked insurance proceeds payable only on the insured's death, where the deceased had no beneficial interest during lifetime, are not property passing on death for estate duty purposes. The Tribunal held that amounts received under a group term insurance policy, group personal accident insurance policy, and double accident benefit were outside the principal value of the estate because they accrued to the legal heirs by operation of the policy terms and nomination, not from any interest ceasing on death. Applying the Estate Duty Act principle on property passing on death, the amounts were excluded from the estate. en-us Mon, 22 Sep 1986 00:00:00 +0530 Thu, 10 Mar 2011 16:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67454 Accident-linked insurance proceeds payable only on the insured's death, where the deceased had no beneficial interest during lifetime, are not property passing on death for estate duty purposes. The Tribunal held that amounts received under a group term insurance policy, group personal accident insurance policy, and double accident benefit were outside the principal value of the estate because they accrued to the legal heirs by operation of the policy terms and nomination, not from any interest ceasing on death. Applying the Estate Duty Act principle on property passing on death, the amounts were excluded from the estate. Case-Laws Income Tax Mon, 22 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67454