https://www.taxtmi.com/caselaws?id=57582 In estate duty valuation, jewellery must be valued at the rate prevailing on the date of death, and a certified rate from the Jewellers Association was accepted as the proper basis. For aggregation under section 34(1)(c), the lineal descendants' share in HUF property is to be determined through the statutory mechanism in section 39, applying the fiction of a total partition immediately before death. On that basis, only shares of lineal descendants are aggregable; the shares allotted to the sons' wives are excluded because they are not lineal descendants. The question of interest under rule 42 was remitted for reconsideration, and the principal value was to be recomputed accordingly. en-us Sun, 21 Jul 1985 00:00:00 +0530 Fri, 10 Dec 2010 18:45:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57582 In estate duty valuation, jewellery must be valued at the rate prevailing on the date of death, and a certified rate from the Jewellers Association was accepted as the proper basis. For aggregation under section 34(1)(c), the lineal descendants' share in HUF property is to be determined through the statutory mechanism in section 39, applying the fiction of a total partition immediately before death. On that basis, only shares of lineal descendants are aggregable; the shares allotted to the sons' wives are excluded because they are not lineal descendants. The question of interest under rule 42 was remitted for reconsideration, and the principal value was to be recomputed accordingly. Case-Laws Income Tax Sun, 21 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57582