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TMI Blog1985 (7) TMI 133X X X X Extracts X X X X X X X X Extracts X X X X ..... first point in dispute relates to the valuation of jewellery. The accountable person claimed that the valuation should be based on the rates given by the Jewellers Association, whereas the authorities below have taken the rate as on 31-12-1979 as the basis. After hearing the revenue, we see no reason why the rate as on date of death as certified by Jewellers Association should be ignored. We, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The next argument was that there was no charge on the share of the lineal descendants. But, this is obviously incorrect because of the very terms of section 34(1)(c) read with section 5 of the Act which imposes a charge on the principal value which necessarily includes the share of lineal descendants which is to be aggregated in the principal value. 5. The last contention was that while aggrega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, this conflict can be easily resolved if we refer to the two decisions of the Supreme Court. In the case of Gurupad Khandappa Magdum v. Hirabai Khandappa Magdum [1981] 129 ITR 440, the Supreme Court held that under Explanation 1 to section 6 of the Hindu Succession Act, 1956, what is required to be assumed is that a partition had, in fact, taken place and that fact must permeate the entire proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to 'a partition immediately before his death' closely follows the wording in Explanation 1 to section 6 of the Hindu Succession Act which is 'if a partition of the property has taken place immediately before his death'. In our opinion, therefore, the partition referred to in both these enactments must, as observed by the Supreme Court, be a total partition. In such a total partition, the shares of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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