This did number include the sum of Rs.3 lakhs transferred by the deceased to the three grand nephews on 4th October 1952.
79 NT 1974.
The said sum thus transferred to the three nephews companytinued to stand in their respective accounts in the books of the firm till its dissolution on 4th July 1960, whereafter some assets were allotted to each one of them in lieu of the amounts standing to their credit.
Godavari Bai as the accountable person filed an account of the assessees estate declaring the value thereof at Rs.2,60,702.
From the Judgment and Order dated 29.2.1972 of the Madras High Court in Tax Case No.
The deceased died on 21st February 1956.
The deceased, Sri Bankatlal Lahoti was a partner in the firm of M s Dayaram Surajmal, which carried on business as a Bankers.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
209 of 1966.
After the death of the deceased, his widow Smt.
A. Ramachandran and Mrs. Janki Ramachandran for the Respondent.
With a view to give Rs.1 lakh each to his three minor grand nephews three grand sons of his deceased brother the deceased on 4th October 1952 issued a cheque for Rs.3 lakhs in favour of the firm this amount was debited in the account of the deceased in the firm and credited in the accounts of the three minors in equal proportion.
Substantially the answer thereto depends upon whether sec.10 of the Estate Duty Act, 1953 is attracted to the case or number.
C. Manchanda and Miss A. Subhashini for the Appellant.
3 lakhs transferred by the deceased to his three grand nephews in equal shares was includible in the estate of the deceased that passed on his death?
The facts giving rise to the question may briefly be stated.
The Judgment of the Court was delivered by TULZAPURKAR, J. The question raised for our determination in this appeal is whether on the facts and in the circumstances of the case the amount of Rs.
