1977 (3) TMI 58

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....es in the shape of building and agricultural lands were made over to his wife for her life and thereafter to an institution called Bethany Chapel Trust absolutely. On his death the properties were subjected to Estate Duty. Mrs. Joseph died on 25th March, 1971 and on her death the Department sought to include the properties in her estate for duty purposes. The accountable person contended that the ....

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.... the accountable person the learned representative has reiterated the submissions made before the lower authorities. 3. On a careful consideration we are unable to accept the contention of the Departmental Representatives. s. 29 of the Estate Duty Act reads as under: "29. Settled property in respect of which since the date of the settlement estate duty has been paid on the death of the decea....

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....eans property which stands limited to, or in trust for, any persons natural or juridical, by way of succession whether the settlement took effect before or after the commencement of this Act; and "settlement" means any disposition, including a dedication or endowment, whereby property is settled." It is clear from the above definition that a property obtained by way of succession would also com....