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1991 (4) TMI 58 - HC - Income Tax

The High Court of Bombay ruled in a departmental reference case regarding the computation of the value of a deceased's life interest in a trust property. The court held that the value of the annuity should be taken as the property passing under section 7 of the Estate Duty Act and not the sum adopted on the basis of section 40 of the Act. The court's decision favored the accountable person.

 

 

 

 

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