https://www.taxtmi.com/caselaws?id=26380 Estate duty payable was not deductible in computing the principal value of the estate. Section 17(1) did not apply to assets of Pioneer Motors because the property transferred belonged to the Hindu undivided family and was conveyed by the deceased only as karta, so no deemed passing arose on that footing. Section 34(1)(c) could not be used to club the lineal descendants' share in the manner urged by the Revenue. After valuation under rule 15, shares in Palkulam Estates required a further 15% discount under the company's articles. en-us Tue, 21 Jan 1986 00:00:00 +0530 Thu, 04 Feb 2010 15:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26380 Estate duty payable was not deductible in computing the principal value of the estate. Section 17(1) did not apply to assets of Pioneer Motors because the property transferred belonged to the Hindu undivided family and was conveyed by the deceased only as karta, so no deemed passing arose on that footing. Section 34(1)(c) could not be used to club the lineal descendants' share in the manner urged by the Revenue. After valuation under rule 15, shares in Palkulam Estates required a further 15% discount under the company's articles. Case-Laws Income Tax Tue, 21 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26380