TMI Blog1992 (7) TMI 128X X X X Extracts X X X X X X X X Extracts X X X X ..... recourse to the provisions of section 59 of the Estate Duty Act, 1953 (the Act) the Assistant Controller of Estate Duty, Jaipur (Asstt. CED) treated the aforesaid amount as gift under section 10 read with section 33(1)(o) of the Act and included the same in the principal value of the deceased passing on his death. In appeal the Appellate Controller of Estate Duty (Appellate CED) confirmed his order. 3. Relying on the Madras High Court decision in the case of CGT v. R. R. Sarma [1978] 111 ITR 70 against which SLP was refused by Supreme Court in 142 ITR (St) 4 (Reports from Supreme Court) the learned counsel for the Accountable Person (AP) submitted that since there was no immediate transfer of any property by the deceased in favour of her ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estion whether the payment by the deceased of the insurance premia within the last two years of his death would attract estate duty either under section 9 or under that section read with section 27 where the insurance policy was taken out under the provisions of Married Women's Property Act, 1874 for the benefit of deceased's wife or of his wife and children, or where the policy was not so taken, the same had been assigned by the deceased to the donee, shall, therefore, have to be necessarily answered in the negative. Thus such payment cannot be regarded as a gift for the purposes of the Act. 5. Viewed in the light of the discussion made herein above the question of applicability of section 10 read with section 33(1)(o) would simply not a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat matter of the sum of Rs. 40,247.84 representing the insurance premia paid could be possible by the deceased in favour of her son, the transaction, as held by the Madras High Court in the case of R. R. Samia did not amount to gift and hence not includible in the principal value of the estate of the deceased. We hold accordingly and direct the exclusion of Rs. 40,247.84 from the principal value of the estate of the deceased, which passed on his death. 8. Inclusion of Rs. 1,15,000 being the estimated value of 115 bighas of agricultural land of the deceased. - Under the relevant provisions of the Ceiling Act the State Government acquired 115 bighas of agricultural land belonging to the deceased. Though the deceased or after her death her ..... X X X X Extracts X X X X X X X X Extracts X X X X
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