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Issues:
Estate duty assessment involving quick succession relief and deduction of estate duty liability from the value of the property passing on successive deaths. Analysis: The case involved a departmental appeal concerning the estate duty assessment of an individual who inherited properties from another deceased individual. The Assistant Controller had deducted a sum from the quick succession relief amount for estate duty liability related to assets included in both assessments. The Controller (Appeals) accepted the accountable person's claim that there was no justification for this deduction, leading to the department challenging this decision. Upon review, it was found that the assets included in both assessments related to deposits with specific entities and a bank balance. The Assistant Controller computed the doubly assessed sum and deducted a proportionate estate duty liability amount. However, the specifics of the estate duty assessments for the deceased individuals were not fully available. The Tribunal noted the complexity arising from the common assets, such as deposits subject to interest accrual and bank balances, especially considering the time gap between the deaths. The issue of trustee involvement and administration expenses further complicated the determination of common assets for the quick succession relief calculation. The Tribunal upheld the Controller (Appeals) decision, emphasizing the difficulty in precisely identifying common assets for successive estate duty assessments, particularly when cash or bank balances were involved. It was deemed impractical to determine which specific portion of a cash or bank balance qualified for the relief. The Assistant Controller's inclusion of half the value of properties passing on the second death without deducting estate duty raised questions about the eligibility for quick succession relief. Ultimately, the Tribunal dismissed the departmental appeal, highlighting the estimated nature of the common assets and the inappropriateness of deducting estate duty liability for the relief calculation. In conclusion, the judgment delves into the complexities of estate duty assessments involving quick succession relief and the challenges in determining common assets passing on successive deaths. The decision underscores the need for a nuanced approach in such cases, considering factors like interest accrual, trustee involvement, and the nature of assets to ensure fair and accurate estate duty assessments.
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