TMI Blog1980 (9) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... tions under s. 64(3) of the E.D. Act, 1953 (hereinafter called " the Act ") have been filed by the CED, M. P., for directing the Tribunal to state the case and refer certain questions of law to this court for its opinion. The material facts giving rise to these applications briefly are as follows : The non-applicant is the accountable person. She filed a return of estate duty in respect of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arties agreed to refer the dispute to an arbitration by the late Nawab of Bhopal, who made his award on January 9, 1947, in favour of the plaintiff and directed that a sum of Rs. 7,00,000 which was held to be the market value of the shares, be paid within ten years in equal instalments. The payment of that amount was secured by pledging the proceeds of Shyamala Deori Jagir inherited by the decease ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rs. 3,50,000 was allowed. Aggrieved by that order, the accountable person as well as the Revenue preferred appeals before the Income-tax Appellate Tribunal, Indore Bench. The Tribunal allowed the appeal of the accountable person and dismissed the appeal filed by the Department. The Tribunal held that the entire liability of Rs. 7,00,000 was liable to be deducted in the computation of the estate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Obedullakhan Trust deductible in computing the amount of estate duty payable in respect of the estate of deceased Rashiduzzafarkhan ? The applications are, accordingly, allowed and the Tribunal is directed to state the case referring the aforesaid question of law to this court for its opinion. In the circumstances of the case, parties shall bear their own costs of these applications. - - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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