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1971 (9) TMI 43 - ALLAHABAD HIGH COURT"Whether, on the facts and in the circumstances of the case, the sum of Rs. 44,000 gifted by the deceased to his minor sons on April 15, 1954, was correctly included in the estate of the deceased as property deemed to pass on his death under section 10 of the Estate Duty Act, 1953?" - held that - In the case before us, the property gifted was brought in as the capital of the firm in which the donor was also a partner. The moment the money was brought into the firm as capital, the deceased, as a partner, had similar possession and control over that money as any partner has over any other asset of the firm. In view of the aforesaid discussion, we answer the question in the affirmative and in favour of the revenue. The accountable person shall pay a sum of Rs. 200 as costs of this reference to the Controller of Estate Duty. Counsel's fee is assessed at the same figure.
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