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TMI Blog1973 (10) TMI 6X X X X Extracts X X X X X X X X Extracts X X X X ..... -tax Appellate Tribunal, Bangalore Bench, has stated a case and referred the following two questions of law for the opinion of this court : " 1. Whether, on the facts and circumstances of the case, the inclusion of the value of cash gifts of Rs. 10,000 each made by the deceased in favour of the minor daughters, by applying the provisions of section 10 of the Estate Duty Act, 1953, is valid in law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id assets are as follows : The deceased Govinda Rao gave cash gift of Rs. 10,000 each to his daughters, Kasibai and Sunitabai. Both of them were minors at the time of the gift and later Sunitabai became major on April 7, 1967, just a few months prior to the date of death of Govinda Rao. The amounts gifted were kept in banks in fixed deposits in the joint names of each of the minor daughters and t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed interest of Rs. 4,048 in the case of each daughter could not have been included in the principal value of the estate. The argument of the learned counsel cannot be rejected as being without any substance, but no such question has been referred for the opinion of this court. The only question referred is whether the inclusion of the value of cash gift of Rs. 10,000 is valid in law. It is also to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osits were taken in the joint names of the deceased along with his minor daughters, the view taken by the Tribunal, in our opinion, is right. The second question relates to a gift of Rs. 15,030 made by the deceased to his son who was an adult. The said sum was deposited by the said son in the firm of which the deceased was a partner. In such a case the Supreme Court has held that the provision of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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