TMI Blog1978 (1) TMI 69X X X X Extracts X X X X X X X X Extracts X X X X ..... . Anklesaria and Co., in which the deceased was a partner with 50% share, was correctly included in the estate of the deceased as property passing or deemed to pass on his death under section 10 of the Estate Duty Act, 1953 ?" The facts necessary for disposal of this reference are that the deceased, G. D. Anklesaria, had 50% share in the firm of M/s. G. D. Anklesaria and Co., Ratlam. The firm came into existence on October 24, 1957. The constitution of the firm was as under: (1) Shri G.D. Anklesaria 50% (2) Smt. Frenibai G. Anklesaria 10% (wife of No. 1) (3) Smt. Daulatibai (sister of No. 1) 30% (4) Master T. Soharabji (minor) 10% (nephew of No. 1) It is alleged that on various dates in the calendar year 1958, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eady in existence and that all the deposits were made by the donee some months after the receipt of the gifts. This contention was not accepted by the Appellate Controllor and he held that the decision in Chick's case [1959] 37 ITR (ED) 89 (PC) applied and, therefore, he maintained the inclusion of rupees one lakh in the principal value of the estate. The accountable person preferred a further appeal and ultimately it was held that the provisions of section 10 of the Estate Duty Act were attracted. Learned counsel for the accountable person contended before us that in Chick's case [1959] 37 ITR (ED) 89 (PC), the father had gifted away pastoral property absolutely to one of his sons and some 17 months after these gifts the father, the don ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ising the transfers to the sons could be included in the principal value of the estate under section 102 of the New Zealand Stamp Duty Act which corresponds to section 10 of the Estate Duty Act (ours), and it was held that the transfers were not hit. It was observed that the transfers of portions of land in 1913 were subject to the partnership rights. It was held that what was comprised in the gifts was the property share of the rights which already belonged to the partnership and on that ground it was observed that the donee in each case assumed enjoyment of the gift immediately upon the gift and retained it to the exclusion of the donor. Learned counsel also referred to us a number of decisions applying either of the principles in these t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r section 10 of the Estate Duty Act will be attracted or not. In this view of the matter, therefore, in our opinion, it would be proper that we direct the Income-tax Appellate Tribunal to submit an additional statement of case stating clearly as to from what account the deceased, G. D. Anklesaria, had withdrawn various sums in the calendar year 1958, as it could be that either Shri Anklesaria had kept some money merely in deposit with the firm and out of this amount he withdrew these sums. It may also be that he might have withdrawn these amounts from the profit account of his share which might be lying in deposit with the firm or he might have withdrawn from the capital account of the firm. This additional statement would be necessary in o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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