https://www.taxtmi.com/caselaws?id=7710 Under the Estate Duty Act, property left by a deceased or deemed to have passed on death is chargeable to duty, and the estate value must be determined from the material on record. A prior wealth-tax assessment is not conclusive, but it has probative value and may be relied on with surrounding circumstances. Here, the accountable person's claim of jewellery depletion was unsupported by credible evidence, while the deceased's earlier wealth-tax returns, the final assessment of jewellery at Rs. 1,00,000, and the absence of proof of sale or gift supported the finding that the jewellery formed part of the estate. The Tribunal's factual finding was held to be reasonable and not open to interference in reference jurisdiction. en-us Wed, 05 Nov 1969 00:00:00 +0530 Tue, 17 Mar 2009 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7710 Under the Estate Duty Act, property left by a deceased or deemed to have passed on death is chargeable to duty, and the estate value must be determined from the material on record. A prior wealth-tax assessment is not conclusive, but it has probative value and may be relied on with surrounding circumstances. Here, the accountable person's claim of jewellery depletion was unsupported by credible evidence, while the deceased's earlier wealth-tax returns, the final assessment of jewellery at Rs. 1,00,000, and the absence of proof of sale or gift supported the finding that the jewellery formed part of the estate. The Tribunal's factual finding was held to be reasonable and not open to interference in reference jurisdiction. Case-Laws Income Tax Wed, 05 Nov 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7710