https://www.taxtmi.com/caselaws?id=152791 Estate duty extends to property passing on death even where succession to other sthanams occurs, but after the Hindu Succession Act, 1956, only the deceased sthanamdar's notional share under the statutory partition fiction can be taxed. A person in possession and connected with management of the deceased's property can be an accountable person, even if others may also qualify. Valuation must reflect open-market value at death, and bona fide estimates based on available material are permissible where direct evidence is lacking. Demand notices and penalties must give effect to quick succession relief; an unreduced demand is unlawful. en-us Thu, 07 Nov 1963 00:00:00 +0530 Thu, 11 Jul 2013 09:59:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152791 Estate duty extends to property passing on death even where succession to other sthanams occurs, but after the Hindu Succession Act, 1956, only the deceased sthanamdar's notional share under the statutory partition fiction can be taxed. A person in possession and connected with management of the deceased's property can be an accountable person, even if others may also qualify. Valuation must reflect open-market value at death, and bona fide estimates based on available material are permissible where direct evidence is lacking. Demand notices and penalties must give effect to quick succession relief; an unreduced demand is unlawful. Case-Laws Income Tax Thu, 07 Nov 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152791