TMI Blog1964 (12) TMI 36X X X X Extracts X X X X X X X X Extracts X X X X ..... 8(b): "After the lifetime of my wife, the said 'Mangala Vilas' bungalow shall be enjoyed by my two sons for life in equal shares" Paragraph 8(e) is to the following effect: "I give my two sons, Manian Natesan and Chandran Natesan, power to sell the 'Mangala Vilas' bungalowif a good price be offered provided the previous consent and concurrence of my wife shall have been obtained thereto. The sale proceeds shall be invested in the purchase of other houses or in approved securities. The dispositions made herein as to the original property shall govern the substituted property or other investment made out of the proceeds of the original property." This will came into effect on the death of the testator on January 10, 1949. The widow of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thereto being vested in her, there must necessarily be a passing of the property on death, within the meaning of section 5. Section 7 deals in particular with interest ceasing on death. It provides that the property in which the deceased had an interest ceasing on the death of the deceased shall be deemed to pass on the deceased's death to the extent to which a benefit accrues or arises by the cesser of such interest. In the present case, that the deceased lady, the widow of the testator, was entitled to live in the property "Mangala Vilas" for her life is not denied. The further provision is that after the lifetime of that lady, the property shall be enjoyed by the two accountable persons. The cesser of the interest of the lady in this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce on the part of the widow and further in the substituted property, whether in the shape of other houses purchased or investments made, the widow has been given the same right as laid down in clause 8(a). It is, therefore, incorrect to say that the sons had a joint interest along with the widow in the property in question. Mr. Mohan Kumaramangalam has not argued, as it appears to have been argued before the Assistant Controller, or before the Board, that the right conferred upon the widow is not property at all. We may point out that section 2(15) of the Act defines property so as to include any interest in the property which should certainly include the right of residence as well. There is no doubt to our minds that the widow's inter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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