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1973 (4) TMI 47 - SUPREME COURTWhether the value of 25 acres of wet land is exempt from levy of estate duty under section 24 of the Estate Duty Act, 1953 ? Held that:- From the facts set out it is absolutely clear that under the partition deed Kotamma gave up her rights to the extent mentioned earlier and in lieu thereof the other members of the family allotted to her share 25 acres of wet land to be enjoyed by her during her lifetime. It was an adjustment of rights. The contention of Mr. Rama Rao that there was " disposition " under the partition deed---the contention which has appealed to the High Court---appears to us to be an erroneous one. A partition is not a transfer in a strict sense. It is an adjustment of the rights of the various members of the family. We see no reason why we should not place the same interpretation on the word " disposition " in section 24 of the Act. Appeal is allowed. The answer given by the High Court to the question referred to it is vacated and in its place we answer that question in the negative and in favour of the revenue.
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