https://www.taxtmi.com/caselaws?id=27101 Life insurance policy proceeds assigned by the deceased to grandchildren were held aggregable with the general estate for rate purposes because the deceased was found to have retained a legally relevant interest, so separate assessments were not justified. Reopening of the assessment was upheld on the basis that a later judicial declaration of the correct legal position could constitute information for reassessment. The Tribunal's rectification was also sustained because the error involved an overlooked matter apparent from the record and fell within the statutory rectification power. en-us Wed, 30 Nov 1983 00:00:00 +0530 Wed, 10 Feb 2010 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27101 Life insurance policy proceeds assigned by the deceased to grandchildren were held aggregable with the general estate for rate purposes because the deceased was found to have retained a legally relevant interest, so separate assessments were not justified. Reopening of the assessment was upheld on the basis that a later judicial declaration of the correct legal position could constitute information for reassessment. The Tribunal's rectification was also sustained because the error involved an overlooked matter apparent from the record and fell within the statutory rectification power. Case-Laws Income Tax Wed, 30 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27101