1996 (2) TMI 99

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....has filed this application under section 64(3) of the Estate Duty Act, 1953, as a result of the order dated March 28, 1988, passed by the Tribunal on Application No. 54/(Ind) of 1987 which was preferred in connection with the order dated July 3, 1987, by the Tribunal in E. D. A. No. 6/(Ind) of 1986. Briefly stated, the facts of the case are that the original assessee who owned the house situate....

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...., 1987. The application seeking statement of the case and reference of the proposed questions was also rejected. The applicant, then, filed this application under section 64(3) of the Estate Duty Act. We have heard Shri D. D. Vyas, learned counsel for the applicant, and Shri B. K. Joshi, learned counsel for the accountable person. In the aforesaid application, the applicant has proposed the ....

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....ule 1BB, inserted with effect from April 1, 1979, being procedural in nature, was retrospective in operation. In view of this position, question No. 1 noted above is not pressed before us. As regards question No. 2, the position is that the accountable person himself had valued the house at Rs. 1,50,000 for the purpose of estate duty. That being so, the question of law is "whether on applicatio....