https://www.taxtmi.com/caselaws?id=28234 For valuing a deceased coparcener's interest in joint family property under section 39(3) of the Estate Duty Act, the residential house exemption under section 33(1)(n) must be applied to the joint family estate as a whole at the stage of notional valuation, not confined to the deceased's fractional share. The provision treats the family properties as if they belonged wholly to the deceased, and only then are they notionally partitioned to ascertain the taxable share. Limiting the exemption to the deceased's share would distort the valuation scheme and create unequal treatment between aggregated family interests and the deceased's notional interest. en-us Tue, 21 Sep 1982 00:00:00 +0530 Fri, 19 Feb 2010 18:14:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28234 For valuing a deceased coparcener's interest in joint family property under section 39(3) of the Estate Duty Act, the residential house exemption under section 33(1)(n) must be applied to the joint family estate as a whole at the stage of notional valuation, not confined to the deceased's fractional share. The provision treats the family properties as if they belonged wholly to the deceased, and only then are they notionally partitioned to ascertain the taxable share. Limiting the exemption to the deceased's share would distort the valuation scheme and create unequal treatment between aggregated family interests and the deceased's notional interest. Case-Laws Income Tax Tue, 21 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28234