1991 (3) TMI 101

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..... te Duty Act, 1953, the Income-tax Appellate Tribunal has referred to this court the following two questions of law: " 1. Whether, on the facts and in the circumstances of the case, the Tribunal erred in holding that the Assistant Controller appeared to have reopened the assessment under both the clauses of section 59 ? 2. Whether, on the facts and in the circumstances of the case and after hav .....

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..... roceedings either under section 59(a) or 59 (b) of the Estate Duty Act, 1953, in the instant case ? " The facts on record clearly indicate that the Bank of India, while filing the estate duty returns in respect of the estate of the deceased, had clearly and categorically stated that the deceased had a life interest in trust property and, on that basis, claimed deduction under section 33(1)(n) of .....

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..... As held by the Supreme Court in the case of Indian and Eastern Newspaper Society v. CIT [1979] 119 ITR 996 (SC), such opinion by the internal audit party does not constitute "information" within the meaning of section 59(b). Accordingly, we answer the first question so reframed in the affirmative and in favour of the accountable person. As regards the second question, counsel are agreed that, .....

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