https://www.taxtmi.com/caselaws?id=24891 Excise duty and penalty that were later quashed in appeal, and were never paid by the deceased or from the estate, did not constitute a subsisting liability deductible as a debt in computing the principal value of the estate under the Estate Duty Act, 1953. A deduction under section 44 is available only for amounts actually payable by the deceased or enforceable against the estate; read with sections 5, 2(15) and 2(16), the duty is on property passing on death after real debts and encumbrances. A liability that has ceased to exist does not reduce the estate's principal value. en-us Thu, 01 May 1986 00:00:00 +0530 Sat, 23 Jan 2010 10:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24891 Excise duty and penalty that were later quashed in appeal, and were never paid by the deceased or from the estate, did not constitute a subsisting liability deductible as a debt in computing the principal value of the estate under the Estate Duty Act, 1953. A deduction under section 44 is available only for amounts actually payable by the deceased or enforceable against the estate; read with sections 5, 2(15) and 2(16), the duty is on property passing on death after real debts and encumbrances. A liability that has ceased to exist does not reduce the estate's principal value. Case-Laws Income Tax Thu, 01 May 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24891