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1990 (6) TMI 61 - BOMBAY HIGH COURT
Extract:
.......t materialise is not property within the meaning of section 2(15) of the Estate Duty Act. Once it is held that it is not Property, the question of its passing on death could not arise. In view of the discussion above, we answer the question referred to us by the Tribunal in the negative and in favour of the accountable person. No order as to costs.