1992 (3) TMI 106

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....s leviable had been sold within a period of two years from the date of death for Rs. 5,00,000 and it was claimed that the accountable person had paid Rs. 4,90,105 towards estate duty on the assessment. A deduction under section 50B was claimed. The accountable person had incurred an expenditure of Rs. 94,497 in connection with stamp duty payable on the Succession Certificate which had to be obtained. In respect of the same, relief under section 50 was also claimed.The Assistant Controller granted relief allowable under section 50 and there is no dispute in regard to that. The present dispute is only in regard to the relief to be allowed under section 50B. 3. The ground raised by the revenue, in its appeal, is about the formula to be appl....

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....author Nanavati accords more appropriately to the language in section 50B. The view of Nanavati is also supported by the learned authors V. Balasubramanyan in his book on Estate Duty and O. P. Chopra in his book on Estate Duty. We agree with the view expressed by the learned author Nanavati to uphold the order of the Appellate Controller of Estate Duty who has directed the Assistant Controller to adopt the formula : x = mn/p for ascertaining the relief to be allowed under section 50B. We find no merit in the ground raised by the revenue in its appeal and it is dismissed. 6. Taking up the appeal by the accountable person, the ground is in regard to the figure to be adopted towards estate duty paid out of the sale proceeds while calculatin....

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....iven from the value of the property in certain cases. The effect of these provisions is to reduce the principal value of the property. Sections 50 to 50B deal with reduction of the duty. They are provisions whereby estate duty leviable under the Act is reduced. 9. The words " estate duty payable " are to be found in all these provisions and they all operate parallelly. The words " estate duty payable " have to be, therefore, given the same meaning while interpreting sections 50 to 50B. 10. As pointed out by the Karnataka High Court in Mrs. Ethel Rodrigues v. Asstt. Controller of estate Duty AIR 1964 Mys. 202, operation of section 50 comes after the estate duty is determined. This comment holds good equally to section 50B, for they all....