https://www.taxtmi.com/caselaws?id=67493 Payment of life insurance premia by the deceased within two years of death was not treated as a gift for estate duty purposes because the payment only discharged the contractual obligation to the insurer and did not effect an immediate transfer of property to the beneficiary; the amount was therefore excluded from the principal value of the estate. An enhanced valuation of acquired agricultural land was also unsustainable because the record showed no receipt of compensation or other material change justifying departure from the earlier estimate; the higher figure was deleted. en-us Tue, 07 Jul 1992 00:00:00 +0530 Thu, 10 Mar 2011 18:24:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67493 Payment of life insurance premia by the deceased within two years of death was not treated as a gift for estate duty purposes because the payment only discharged the contractual obligation to the insurer and did not effect an immediate transfer of property to the beneficiary; the amount was therefore excluded from the principal value of the estate. An enhanced valuation of acquired agricultural land was also unsustainable because the record showed no receipt of compensation or other material change justifying departure from the earlier estimate; the higher figure was deleted. Case-Laws Income Tax Tue, 07 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67493