Amend the contents of form ED-53. - Income Tax - 246/CBDT

INSTRUCTION NO. 246/CBDT Dated: December 8, 1970 Section(s) Referred: 74(3) Statute: Estate Duty Act Attention is invited to boards circular F.NO.1/6/57-E.D., dated 3rd May 1957 intimating the form of certificate which the controller may under the powers conferred on him by sub-section 3 of section 74 of the Estate duty act issue in appropriate cases on the application of the accountable persons for release of any immovable property from the charge imposed thereon under sub-section(1) of section 74. This non-statutory form was numbered as form ED 53. 2. The board have noted that in a case the certificate u/s.74(3) was issued without ascertaining the sale price of the property and the Estate duty assessment was completed by including the returned value of the property which was much less as compared to the sale value. With a view to avoid any repetition of such mistakes, the board desire that the issuing officer must insist for the written submission of full value of mortgage/lease/sale of the property before the certificate is issued. 3. The board have decided to amend the contents of form ED-53 accordingly. In the amended form the full value of the property has to be mentioned in the column immediately following the column description of property. This amended form would be printed very soon. In the meantime cyclostyled copies may be used.