https://www.taxtmi.com/caselaws?id=39762 Accident insurance proceeds were analysed under the Estate Duty Act as distinct from life insurance and were not covered by section 14, which is confined to policies on the life of the insured kept up for a donee's benefit. The deceased's contingent contractual interest under the accident policy was treated as proprietary property capable of passing on death, so the sums received by the nominee or legal representatives fell within sections 5, 6 and 15. Because the deceased had such an interest, the amounts were not eligible for separate treatment under section 34(3) and were aggregable with the estate. Valuation was to be made by reference to the date of death. en-us Mon, 04 Nov 1974 00:00:00 +0530 Tue, 20 Apr 2010 11:50:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39762 Accident insurance proceeds were analysed under the Estate Duty Act as distinct from life insurance and were not covered by section 14, which is confined to policies on the life of the insured kept up for a donee's benefit. The deceased's contingent contractual interest under the accident policy was treated as proprietary property capable of passing on death, so the sums received by the nominee or legal representatives fell within sections 5, 6 and 15. Because the deceased had such an interest, the amounts were not eligible for separate treatment under section 34(3) and were aggregable with the estate. Valuation was to be made by reference to the date of death. Case-Laws Income Tax Mon, 04 Nov 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39762