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TMI Blog1960 (3) TMI 68X X X X Extracts X X X X X X X X Extracts X X X X ..... e amount of the verified claim being ₹ 34,85,030/-. The controller of Estate Duty determined the principal value of the entire estate of the deceased at ₹ 43,66,249/- which included the aforesaid amount of claim. This was done on the return filed by his son and heir Murat Singh who was an accountable person within the meaning of sub-section (1) of Section 53 of the Act. Murat Singh preferred an appeal to the Central Board of Revenue under Section 63 of the Act against the order of the Controller his main objection being that the amount of ₹ 34,85,030/- representing the "verified claim" could not be included while computing the principal value of the estate of his deceased father. The Board, however, came to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat would attach to such claims or clothing them with any incidence of property. According to the permeable of the Act, it was to provide for the registration and verification of claims of displaced persons in respect of immovable property in Pakistan. It was only when the Displaced Persons (Compensation and Rehabilitation) Act, 1954, was enacted that provisions were made for determination of the amount of compensation and the form and manner of its payment to displaced persons. According to S. 4, displaced persons could make applications for payment of compensation in the prescribed from the Settlement Officers within a prescribed period and every application for payment of compensation had to contain certain particulars, one of which was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able or immovable, the proceeds of sale thereof and any money or investment for the time being representing the proceeds of sale. It also includes any property converted from one species into another by any method. The explanations to the aforesaid provision are hardly relevant and need not be referred to. Sub-section (16) of S. 2 defines "property passing on the death" as including property passing either immediately on the death or after any interval, either certainly or continently, and either originally or by way of substitutive limitation, and the expression "on the death" includes "at a period ascertainable only by reference to death." Section 3(1)(a) contains a provision that a person shall be deemed co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndent. In the first place, it is not possible to take into consideration the objects clause for the purposes of determining whether a verified claim falls within the definition and meaning of the word "property". Secondly, even in the objects clause it is merely stated that in regard to owners of urban property from Western Pakistan it was necessary to obtain accurate information of immovable property which they had left behind. The following statement further appears: "The object of this Bill is to empower Government to receive, register and verify claims of displaced persons in respect of immovable property which they have left behind in Western Pakistan x x x." It is not possible to see from the above and the pream ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lyze its meaning, it is manifest that a great many things, choses in action, are in the ordinary sense of the word "property' and capable of being treated not indeed by physical handling, but by the documents of title and investments recognised by the law as transferring the title, the incorporeal right to sue (that is what is strictly comprehended in such phrases), documents which are capable of being enforce and treated as subjects of property. In Wharton's Law Lexicon (Fourteenth End.) "property" is stated to be "the highest right a man can have to anything being used for that right which one has to lands for tenements, goods or chattels, which does not depend on another's courtesy. Property is of three ..... X X X X Extracts X X X X X X X X Extracts X X X X
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