9911796707
TMI Blog1971 (7) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1953, hereinafter called the Act: "Whether, on the facts and in the circumstances of the case, the Board was right in holding that estate duty was payable on the death of the deceased under the provisions of the Estate Duty Act, 1953, on the value of non-agricultural property at the rate applicable to the principal value of the estate which would include the value of agricultural land in Pepsu which was not liable to duty but was liable to inclusion in the value of the estate ?" It has arisen in the following circumstances. Col. Raghbir Singh died on 7th January, 1953, leaving property, both agricultural and non-agricultural. On his death, his widow, Shrimathi Virpaul Kaur, furnished an account of that property to the Assistant Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he payment of the estate duty and the value of the former was less than rupees one lakh. It held that under section 34(1) of the Act, all properties passing on death, including exempted agricultural lands in the Pepsu State, had to be aggregated in the first place for determining the principal value of the estate and the rate of duty appropriate thereto. When that was done, the principal value exceeded rupees one lakh and there was, therefore, a definite rate of duty applicable to the estate of the deceased. The duty was, however, to be levied on the dutiable portion of the estate, the rest being exempt, but at the rate applicable to the aggregate estate. The charging section in the Act is section 5, the relevant portion of which reads: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the rate or rates applicable in respect of the principal value thereof: ......" This section, as I have already mentioned, comes into play for fixing the rate of estate duty, and for that purpose, agricultural lands situate, in Pepsu and belonging to the deceased will be included. Then comes section 35, which concerns the rates of estate duty on property, including agricultural land, and it reads : "35. Rates of estate duty on property including agricultural land.- (1) The rates of estate duty shall be as mentioned in the Second Schedule: Provided that no such duty shall be levied upon-...." A combined reading of these sections would show that if the value of non-agricultural property of a deceased person exceeds rupees one lakh, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
