https://www.taxtmi.com/caselaws?id=29581 Estate duty liability was not allowable as a deduction in computing the principal value of the estate under section 44 of the Estate Duty Act, 1953, as the point was already covered against the accountable person on the facts. A loan due to the deceased's daughter was liable to abatement under section 46(1)(b) because the relevant test was whether the lender's resources had at any time included property derived from the deceased, not direct tracing of the gifted money into the loan. The reference was therefore answered in favour of the revenue. en-us Fri, 24 Apr 1981 00:00:00 +0530 Sat, 13 Mar 2010 18:05:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29581 Estate duty liability was not allowable as a deduction in computing the principal value of the estate under section 44 of the Estate Duty Act, 1953, as the point was already covered against the accountable person on the facts. A loan due to the deceased's daughter was liable to abatement under section 46(1)(b) because the relevant test was whether the lender's resources had at any time included property derived from the deceased, not direct tracing of the gifted money into the loan. The reference was therefore answered in favour of the revenue. Case-Laws Income Tax Fri, 24 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29581