https://www.taxtmi.com/caselaws?id=40243 Statutory nomination under the Government Savings Certificates Act entitles the nominee to receive payment and gives the payer a valid discharge, but it does not transfer absolute beneficial ownership. The scheme is intended to avoid delay and expense in payment, while preserving the rights of the executor, administrator, or legal representative to claim the amount after lawful debts and demands are satisfied. The amount received by the nominee therefore remains part of the deceased's estate and is subject to the law of succession. en-us Wed, 16 Aug 2000 00:00:00 +0530 Wed, 03 Jun 2015 11:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40243 Statutory nomination under the Government Savings Certificates Act entitles the nominee to receive payment and gives the payer a valid discharge, but it does not transfer absolute beneficial ownership. The scheme is intended to avoid delay and expense in payment, while preserving the rights of the executor, administrator, or legal representative to claim the amount after lawful debts and demands are satisfied. The amount received by the nominee therefore remains part of the deceased's estate and is subject to the law of succession. Case-Laws Income Tax Wed, 16 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40243