https://www.taxtmi.com/caselaws?id=71754 Life insurance proceeds paid on a policy funded from Hindu undivided family assets, reflected in the family books, were treated as belonging to the family rather than the deceased's individual estate despite nomination of the wife. On that basis, the proceeds were excluded from the estate duty computation. The share of lineal descendants was then not aggregated for rate purposes under section 34(1)(c) because, after exclusion of the insurance amount, the deceased's estate fell below the taxable limit and the aggregation provision had no operative effect on the facts found. The revenue's additions were therefore not sustained. en-us Fri, 03 Sep 1982 00:00:00 +0530 Tue, 26 Apr 2011 18:23:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71754 Life insurance proceeds paid on a policy funded from Hindu undivided family assets, reflected in the family books, were treated as belonging to the family rather than the deceased's individual estate despite nomination of the wife. On that basis, the proceeds were excluded from the estate duty computation. The share of lineal descendants was then not aggregated for rate purposes under section 34(1)(c) because, after exclusion of the insurance amount, the deceased's estate fell below the taxable limit and the aggregation provision had no operative effect on the facts found. The revenue's additions were therefore not sustained. Case-Laws Income Tax Fri, 03 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71754