https://www.taxtmi.com/caselaws?id=7410 Jointly held National Savings Certificates purchased by the deceased from his own funds were treated as property deemed to pass on death, because the joint vesting and survivorship conditions under section 13 of the Estate Duty Act were satisfied and the will recital did not prove an earlier inter vivos gift. Insurance proceeds under policies assigned to the wife were also deemed to pass on death under section 14(1), since the assignment did not establish a completed gift and the policies had been kept alive by the deceased for the assignee's benefit. A debt does not disappear merely because recovery is time-barred; where it remains a recoverable asset and has not become a bad debt, it may be included in the principal value of the estate. en-us Thu, 19 Sep 1968 00:00:00 +0530 Thu, 19 Feb 2009 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7410 Jointly held National Savings Certificates purchased by the deceased from his own funds were treated as property deemed to pass on death, because the joint vesting and survivorship conditions under section 13 of the Estate Duty Act were satisfied and the will recital did not prove an earlier inter vivos gift. Insurance proceeds under policies assigned to the wife were also deemed to pass on death under section 14(1), since the assignment did not establish a completed gift and the policies had been kept alive by the deceased for the assignee's benefit. A debt does not disappear merely because recovery is time-barred; where it remains a recoverable asset and has not become a bad debt, it may be included in the principal value of the estate. Case-Laws Income Tax Thu, 19 Sep 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7410