9911796707
TMI Blog1987 (1) TMI 154X X X X Extracts X X X X X X X X Extracts X X X X ..... om the net wealth of the estate of late Mrs. Kiran Wati in respect of asst. yr. 1980-81, for which the valuation date was 31st March, 1980; the cross objection has been filed only to support the order appealed against and no relief is sought. 2. Smt. Kiran Wati expired on8th Feb., 1980and left a Will executed on29th Dec., 1972. Though the Will specifically provided that on the demise of the test ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vacating the related addition. 4. For the respondent, Shri C.S. Agarwal very effectively submitted that 'if the terms and clauses of the deceased s Will were in focus of the Revenue authorities, the cause of action for making the addition and for filing the appeal against the AAC s order might not have arisen. To understand the respective stand, relevant portion of the Will may be noticed below: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... immovable property belongs to me absolutely, in terms of the said Partition Deed. xxxxxxx 4. My son Shri Sheel Chandra is married to Smt. Kusum Lata. They have four sons, namely, Tarun Chandra, Sharad Chandra, Vikas Chandra and Vineet Chandra, who are respectively now aged seventeen, sixteen, fourteen and thirteen years. 5. My younger son Shri Naresh Chandra is married to Smt. Suman and they ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng one-half share in both the above-mentioned properties shall be taken in equal shares by my two grandsons, Tarang Chandra and Anurag Chandra. In this manner, both the said two immovable properties shall pass exclusively to my said grand sons only." 5. From the above it is clear that the deceased s Will absolutely any without any condition demised the interest in the properties in favour of her ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are held by the legatee on any valuation date, be included in the net wealth of such specific legatee on that valuation date." 7. According to us the cause of litigation has arisen because the learned AAC did not refer to the clauses of the Will as such. By holding that by operation of law as stipulated in the Will, the property devolved immediately on the six grand-children of the deceased and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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