https://www.taxtmi.com/caselaws?id=69388 The valuation of the flat and vacant site had to follow the wealth-tax value for the year immediately preceding death, and the accountable person's figures were accepted because the administrative instruction governed the valuation exercise on the facts. The amount set apart for the daughter's marriage was not deductible as a charge reducing the principal value of the estate, because a charge under section 100 of the Transfer of Property Act does not create an interest in property and the arrangement was a self-created encumbrance arising from a personal obligation. As it was not consideration in money or money's worth under the Estate Duty Act, it could not be allowed indirectly through estate valuation. en-us Fri, 10 Jul 1987 00:00:00 +0530 Wed, 06 Apr 2011 14:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69388 The valuation of the flat and vacant site had to follow the wealth-tax value for the year immediately preceding death, and the accountable person's figures were accepted because the administrative instruction governed the valuation exercise on the facts. The amount set apart for the daughter's marriage was not deductible as a charge reducing the principal value of the estate, because a charge under section 100 of the Transfer of Property Act does not create an interest in property and the arrangement was a self-created encumbrance arising from a personal obligation. As it was not consideration in money or money's worth under the Estate Duty Act, it could not be allowed indirectly through estate valuation. Case-Laws Income Tax Fri, 10 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69388