1964 (2) TMI 99

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....spondent. JUDGMENT Hegde, This is a reference under section 64(1) of the Estate Duty Act, 1953. The question of law referred is : "Whether, on the facts and in the circumstances of the case, the claim for the deduction of the liability of Rs. 1,51,215 for tax and Rs. 27,000 for penalty under the Income-tax Act was properly disallowed in computing the principal value of the estate....

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....tatement of the case and is marked annexure "B". (ii)The applicant thereafter preferred an appeal to the Board under section 63 of the Act against the order of the Assistant Controller. The main objection raised in the appeal related to the refusal of the Assistant Controller to allow any deduction for income-tax liability. (iii)The Board found that, in the income-tax assessment ....

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....ate of the deceased as on the date of death. 3. The Board held that the appeal against the income-tax assessments brought into existence an interest in or a right to property, which would crystallise and was expected to crystallise in due course in a material form ; that the quantum of income-tax demand does not become final until all the appeal and reference proceedings are concluded ; that th....

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....ibunal. From the order of the Central Board, it is clear that if the order of the Income-tax Officer had remained intact, the Board would have allowed the deduction claimed. 6. The order of the Income-tax Appellate Tribunal is no more in existence in view of the order of this court in I.T.R.C. No. 15 of 1959 since reported as Commissioner of Income-tax v. Lakshmamma [1964] 52 ITR 789 . The effe....