https://www.taxtmi.com/caselaws?id=37593 A payment received from the insurer in relation to a life policy taken out by the deceased remained taxable in the principal value of the estate under section 14 of the Estate Duty Act, 1953. The court treated the insurer's unilateral description of the amount as ex gratia as immaterial because the receipt was traceable only to the insurance contract and was made in relation to that policy. Even if the policy were assumed void for non-disclosure, the insurer's payment would still be regarded as payment under the policy and attract estate duty. en-us Thu, 18 Jan 1979 00:00:00 +0530 Tue, 30 Mar 2010 17:00:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37593 A payment received from the insurer in relation to a life policy taken out by the deceased remained taxable in the principal value of the estate under section 14 of the Estate Duty Act, 1953. The court treated the insurer's unilateral description of the amount as ex gratia as immaterial because the receipt was traceable only to the insurance contract and was made in relation to that policy. Even if the policy were assumed void for non-disclosure, the insurer's payment would still be regarded as payment under the policy and attract estate duty. Case-Laws Income Tax Thu, 18 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37593