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2003 (7) TMI 8 - RAJASTHAN HIGH COURTEstate Duty Act, 1953 – Passing of Property - "Whether, Tribunal is justified in holding that the estate left by the deceased belonged to the Hindu undivided family and only value of 1/4th share therein is assessable to estate duty in the hands of the accountable person? - "Whether, Tribunal is justified in holding that the assets (cash in hand, money in hand, amount due in insurance policies) left by the deceased were not his personal assets? - we answer the first question in affirmative, i.e., in favour of the accountable person, and against the Revenue. With regard to second question, we answer that the cash in hand and money in bank that belongs to the deceased in his individual capacity and is subject to estate duty. The amount due in the insurance policy does not belong to the deceased in his individual capacity, therefore, not subject to estate duty
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