TaxTMI 
TaxTMI 
1987 (2) TMI 58
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....share of the properties included in the estate duty assessment of the deceased should have been included as property passing or deemed to pass on his death under section 7 of the Act ? (2) Whether, on the facts and in the circumstances of the case, the amount of Rs. 80,000 standing in the names of the grandchildren of the deceased was correctly included in his estate ? " This reference arose out of the proceedings in connection with the estate duty assessment in respect of the estate of the late L. Kedar Nath, who died on September 8, 1955. Sri Vithal Das, the eldest son of the deceased, filed the estate duty return in respect of the properties left by Kedar Nath and had showed the value of the estate by the deceased at Rs. 1,57,764. The ....
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....eceased was not a partner. The latter firm paid interest to the minors on the amount standing in their names. The Assistant Controller found that the transfer of accounts from the books of Girdhari Lal Kedar Nath, Tanda, to the books of Messrs. Bhawani Prasad Girdhari Lal, Kanpur, took place only on November 3, 1953. At that time, the amount was transferred only by making book entries and no cash passed from the Tanda firm to the Kanpur firm. It was only on August 4, 1955, that for the first time an amount of Rs. 6,000 was remitted from Tanda to Kanpur. This was followed by remittances amounting to Rs. 20,000, Rs. 12,000 and Rs. 25,000 made on August 16, 1955, September 5, 1955, and September 6, 1955, respectively. According to the Assistan....