https://www.taxtmi.com/caselaws?id=200713 Probate court-fee valuation must reflect the estate in the condition in which it stood at death and account for estate duty payable on property passing on death. Where the probate application is filed more than one year after death, the relevant valuation date is the application date; however, enhanced rents arising solely from post-death improvements by the petitioner cannot inflate the deceased's estate value. Estate duty is deductible in determining market value because the executor receives the property subject to that liability, and a willing purchaser would value it as encumbered. Court-fee is consequently computed on the corrected estate valuation after deducting estate duty. en-us Wed, 11 Mar 1964 00:00:00 +0530 Mon, 04 Jun 2018 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200713 Probate court-fee valuation must reflect the estate in the condition in which it stood at death and account for estate duty payable on property passing on death. Where the probate application is filed more than one year after death, the relevant valuation date is the application date; however, enhanced rents arising solely from post-death improvements by the petitioner cannot inflate the deceased's estate value. Estate duty is deductible in determining market value because the executor receives the property subject to that liability, and a willing purchaser would value it as encumbered. Court-fee is consequently computed on the corrected estate valuation after deducting estate duty. Case-Laws Income Tax Wed, 11 Mar 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200713