https://www.taxtmi.com/caselaws?id=39781 A partner's share in a firm is treated as movable property even where the firm owns immovable assets outside India. On that basis, the deceased's one-third partnership interest was includible in the principal value of the estate, because the charge attached to the partnership share rather than directly to the foreign immovable property. Rule 7(c) of the Estate Duty Rules, 1953 was also upheld as consistent with the Estate Duty Act, 1953 and the general law of partnership, since it reflected the legal character of the partner's interest and did not exceed the rule-making power. en-us Mon, 30 Jul 1973 00:00:00 +0530 Tue, 20 Apr 2010 12:24:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39781 A partner's share in a firm is treated as movable property even where the firm owns immovable assets outside India. On that basis, the deceased's one-third partnership interest was includible in the principal value of the estate, because the charge attached to the partnership share rather than directly to the foreign immovable property. Rule 7(c) of the Estate Duty Rules, 1953 was also upheld as consistent with the Estate Duty Act, 1953 and the general law of partnership, since it reflected the legal character of the partner's interest and did not exceed the rule-making power. Case-Laws Income Tax Mon, 30 Jul 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39781