1977 (10) TMI 16

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....ivered by MUKTADAR J.--The Income-tax Appellate Tribunal has formulated the following question for our decision at the instance of the Controller of Estate Duty, Andhra Pradesh: "Whether, on the facts and in the circumstances of the case, the entire residential house belonging to the HUF in which the deceased had 1/5th share was exempt under s. 33(1)(n) of the E.D. Act ?" The facts are th....

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.... value of the residential house to Rs. 44,000 and fixed the 1/5th share of the deceased at Rs. 8,800. On further appeal, the Appellate Tribunal, however, observed that, according to s. 39(3), the valuation of the joint family property had to be made as if the deceased was the owner of the entire property and then his share therein taken as if there was a partition just before his death and that, s....

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....he two sons of the deceased are the coparceners and they would take two-thirds share in the house as coparceners. In these circumstances the share of the two coparceners cannot be brought into the estate of the deceased. So, having given exemption under s. 33(1)(n) to the extent of the share of the deceased and having held that, after deducting the one-third share of the deceased, the balance cann....