https://www.taxtmi.com/caselaws?id=58830 Section 39 of the Estate Duty Act, 1953 uses a limited legal fiction only to estimate the principal value of Hindu undivided family coparcenary property on death. That fiction applies to valuation under sub-sections (1) to (3) and cannot be extended to deeming provisions that treat property as passing or deemed to pass on death. Gifts made by the HUF therefore cannot be added merely by invoking those deeming rules for valuation under section 39. The principal value must be computed within the confines of the valuation fiction, and the gift was correctly excluded. en-us Thu, 08 Sep 1983 00:00:00 +0530 Wed, 22 Dec 2010 14:11:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58830 Section 39 of the Estate Duty Act, 1953 uses a limited legal fiction only to estimate the principal value of Hindu undivided family coparcenary property on death. That fiction applies to valuation under sub-sections (1) to (3) and cannot be extended to deeming provisions that treat property as passing or deemed to pass on death. Gifts made by the HUF therefore cannot be added merely by invoking those deeming rules for valuation under section 39. The principal value must be computed within the confines of the valuation fiction, and the gift was correctly excluded. Case-Laws Income Tax Thu, 08 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58830