https://www.taxtmi.com/caselaws?id=70725 Amounts payable under separate life insurance policies taken under the Married Women's Property Act, where the deceased had no interest in the policies, are treated as separate estates for estate duty purposes. Section 34(3) of the Estate Duty Act, 1953 provides that property in which the deceased never had an interest is not to be aggregated with other property and must be assessed as an estate by itself at the rate applicable to its principal value. On that construction, there is no basis for combining multiple such policy amounts merely because they are payable to the same beneficiary. The interpretation is also said to accord with the rule that, where two constructions are possible, the one favourable to the accountable person should prevail. en-us Thu, 23 Aug 1984 00:00:00 +0530 Mon, 18 Apr 2011 17:50:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70725 Amounts payable under separate life insurance policies taken under the Married Women's Property Act, where the deceased had no interest in the policies, are treated as separate estates for estate duty purposes. Section 34(3) of the Estate Duty Act, 1953 provides that property in which the deceased never had an interest is not to be aggregated with other property and must be assessed as an estate by itself at the rate applicable to its principal value. On that construction, there is no basis for combining multiple such policy amounts merely because they are payable to the same beneficiary. The interpretation is also said to accord with the rule that, where two constructions are possible, the one favourable to the accountable person should prevail. Case-Laws Income Tax Thu, 23 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70725