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Issues:
1. Applicability of section 10 of the Estate Duty Act to the settlement deed. 2. Valuation of property No. 22A, Srinivasa Perumal Sannadhi St., Royapettah, Madras. Analysis: 1. The appeals involved the applicability of section 10 of the Estate Duty Act to a settlement deed executed by the deceased, wherein properties were settled on his sons with a provision for maintaining the mother till her lifetime. The accountable persons contended that there was no legal obligation for the sons to maintain their mother as it was merely a pious wish of the deceased. They argued that the deceased, as a Hindu, was already obligated to maintain his wife under the Hindu Adoption and Maintenance Act of 1956. The settlement deed did not relieve the deceased from this statutory obligation. The Tribunal held that the settlement did not create a charge for maintenance, and the sons were already bound by law to maintain their mother, making the application of section 10 inappropriate. The value of the properties was thus excluded from the estate value under section 10. 2. The dispute also involved the valuation of property No. 22A, Srinivasa Perumal Sannadhi St., Madras. The Department contended that the land was leased for 99 years, justifying the valuation method used. However, the accountable persons argued that it was only a month-to-month lease, disputing the valuation. The Tribunal found no conclusive evidence supporting either claim. Considering the lack of evidence against the monthly lease claim, the Tribunal accepted the accountable persons' assertion and adjusted the valuation of the property to Rs. 10,000, excluding the value of the land from the calculation. In conclusion, the Tribunal allowed the appeals in part, ruling in favor of the accountable persons on both issues regarding the applicability of section 10 of the Estate Duty Act and the valuation of property No. 22A, Srinivasa Perumal Sannadhi St., Madras.
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