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1979 (11) TMI 98 - SC - Indian LawsWhether all or any part of the properties which were the subject-matter of a trust can be treated as passing on the death of Panchu Gopal Banerjee (" the deceased ") for purposes of levy of estate duty under the E. D. Act, 1953? Held that:- Only one-half of the properties covered by the trust corresponding to one-half of the total income which had to be spent on religious purposes should be considered as not passing on the death of the deceased since the religious endowment made in that regard would not fail despite the fact that the remaining one-half of the properties retained their private and secular character. We are also of the view that the remaining one-half of the properties which is held to be remaining undisposed of and which was held by the deceased immediately before his death should be deemed to pass on his death for purposes of s. 5 of the Act. The High Court was, therefore, in error in holding that the whole of the trust properties constituted a religious endowment and did not pass on the death of the deceased. The appeal is, therefore, partly allowed. We hold that only one-half of the properties which were the subject-matter of the trust deed dated June 27, 1939 (Jagadhatri Sampad Trust) passed on the death the deceased under s. 5 of the Act and the remaining one-half did not.
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