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Issues:
1. Interpretation of section 33(1)(n) of the Estate Duty Act, 1953 regarding exemption for a residential house. 2. Application of section 39(3) of the Act in determining the value of joint family property. 3. Consideration of decisions by different High Courts on the issue of exemption under section 33(1)(n). Detailed Analysis: The High Court of Patna was tasked with interpreting the provisions of section 33(1)(n) of the Estate Duty Act, 1953, specifically concerning the exemption for a residential house. The primary issue was whether the Tribunal was justified in not granting exemption of Rs. 1,00,000 for the residential house and limiting it only to the extent of the share of the deceased. The court noted that similar issues had been addressed in previous judgments, making the matter no longer res integra. The case involved the estimation of the value of a residential house belonging to a Hindu undivided family for estate duty purposes. The Assistant Controller of Estate Duty granted exemption of Rs. 25,725 for the deceased's share in the house under section 33(1)(n) but added the value of shares of lineal descendants under section 34(1). The court considered arguments from both the counsel for the assessee and the Revenue regarding the application of section 39(3) for assessing joint family property and the scope of exemption under section 33(1)(n). The court referred to various decisions, notably those by the Madras High Court, which emphasized the process of determining the value of joint family property and the deceased's share for estate duty assessment. The judgments highlighted that the exemption under section 33(1)(n) is linked to the valuation process and should be applied before determining the share of the deceased and lineal descendants. The court also discussed conflicting views from the Andhra Pradesh High Court but ultimately aligned with the interpretations of the Madras and Karnataka High Courts. In conclusion, the court upheld the decisions of the Madras and Karnataka High Courts, ruling in favor of restricting the exemption under section 33(1)(n) to the share of the deceased in the residential house. The judgment answered the reference question in the affirmative, supporting the Revenue's position. The court found no need to delve into judgments not directly relevant to the issue, as the law had been settled by previous decisions. The judgment was a unanimous decision by the judges, with no costs awarded to either party.
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