1994 (1) TMI 30 - HC - Income Tax

Summary

The High Court of Madhya Pradesh ruled in favor of the assessee in a case involving the exclusion of property from the dutiable estate under the Estate Duty Act. The court upheld the Income-tax Appellate Tribunal's decision that a gift deed was valid and not subject to estate duty. The court found that sections 10 and 27 of the Act were not applicable in this case. The judgment was transmitted to the Appellate Tribunal with no cost directions.