TMI Blog2003 (2) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... awan at Rs. 2 lakhs?" - we answer question No. 1 in the affirmative, i.e., in favour of the Revenue and against the assessee-accountable person. - So far as questions Nos. 2, 3 and 4 are concerned, we answer all these questions in the negative, i.e., in favour of the accountable person and against the Revenue. - - - - - Dated:- 20-2-2003 - Judge(s) : Y. R. MEENA., KHEM CHAND SHARMA. JUDGMENT On an application filed under section 64(6) of the Estate Duty Act, 1953, the Tribunal has referred the following questions for the opinion of this court: "Whether the Tribunal was right in law in holding that the deceased had 1/3rd share in Nahata Bhawan, Chopasani Road, Jodhpur, and the said share passed on the death of the deceased? Wheth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hawan on the death of Shri Prakashmal Nahata. The Assistant Controller did not accept the claim of the accountable person, Ghanshyam Nahata, that 1/3rd share of the Nahata Bhawan does not pass on to the successor on the death of Shri Prakashmal Nahata. Thereafter the statements were recorded and necessary documents were examined by the Assistant Controller and he gave the finding in para. 15 of his order that till the date of death the accumulations and income accrued in the books of Nahata Bhawan Trust, which passed according to him to Smt. Urmila under section 5 of the Estate Duty Act, but possession and the enjoyment of the property remained with Gyanmal Nahata and the legal heirs of Kistur Chand Nahata. He accordingly came to the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... husudan Dwarkadas Vora v. Superintendent of Stamps [1983] 141 ITR 802. He further submits that multiplier should be taken ten times of the part of the property and for that he has placed reliance on the decision of this court in the case of CWT v. Vallabh Das [2003] 262 ITR 319. Mr. Mathur, learned counsel for the Department, has supported the reasons given by the Tribunal for valuing the Tribunal (sic). Whether 1/3rd share of the Nahata Bhawan has been passed on to the accountable persons or not, that has been considered by the Tribunal at page 12 of its order under the heading "Nahata Bhawan". Considering the material, the Tribunal has given the following findings, which read as under: "The wife of the deceased has also returned 1/3rd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y which passed on his death. Incidently, it was conceded before us that on the death of the deceased's brother, Kistoormal, in 1969,1/3rd share of Nahata Bhawan was held to pass on his death and there was no dispute about it." Considering the reasons given by the Tribunal and the material on record, we find no reason to interfere in the order of the Tribunal holding that 1/3rd share in Nahata Bhawan has passed to the accountable persons on the death of Shri Prakashmal Nahata. Questions Nos. 2, 3 and 4 relate to valuation of 1/3rd share in Nahata Bhawan, which has passed to the accountable persons. Admittedly, there is no rule or provision under the Estate Duty Act to value the property passing on death to the accountable persons. The Bo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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