https://www.taxtmi.com/caselaws?id=67890 A life insurance policy kept up by the deceased was valued for estate duty at its maturity value, because the policy moneys were treated as passing on death at the valuation point immediately after death. The argument for surrender value was rejected, as the policy was a life policy under the deceased's beneficial control. The difference between maturity value and surrender value could not be split off as a separate estate under section 34(3), because the whole policy proceeds were already part of the estate. The estate duty assessment including the full maturity value was therefore sustained. en-us Mon, 10 Dec 1984 00:00:00 +0530 Tue, 15 Mar 2011 11:54:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67890 A life insurance policy kept up by the deceased was valued for estate duty at its maturity value, because the policy moneys were treated as passing on death at the valuation point immediately after death. The argument for surrender value was rejected, as the policy was a life policy under the deceased's beneficial control. The difference between maturity value and surrender value could not be split off as a separate estate under section 34(3), because the whole policy proceeds were already part of the estate. The estate duty assessment including the full maturity value was therefore sustained. Case-Laws Income Tax Mon, 10 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67890