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TMI Blog1991 (10) TMI 84X X X X Extracts X X X X X X X X Extracts X X X X ..... our very careful consideration to the facts of the case, the reasoning of the ld. lower authorities, contents of assessee's paper-book (13 pages) and that of the revenue (10 pages). At our behest, the assessee has also filed some factual details which relate to filing of the original wealth-tax return, wealth disclosed, wealth assessed, date of original assessment, date of the search on the assessee's premises by FERA people, date of issuance of notices under section 17 of the Wealth-tax Act, 1957, date of filing of the returns in response to the above notices, wealth disclosed in the returns filed in compliance to notices under section 17 of the Act, total wealth assessed on re-assessment, dates of completion of reassessments, date of pena ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... succession was governed by the Hindu Succession Act. Smt. Sarbati Devi v. Smi. Usha Devi AIR 1984 SC 346 is an authority for this proposition. The Hon'ble Supreme Court of India in that case has held as under :-- " A mere nomination made under section 39 does not have the effect of conferring on the nominee any beneficial interest in the amount payable under the life insurance policy on the death of the assured. The nomination only indicates the hand which is authorised to receive the amount, on the payment of which the insurer gets a valid discharge of its liability under the policy. The amount, however, can be claimed by the heirs of the assured in accordance with the law of succession governing them. " Under the Hindu Succession Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... int out to the irresistible conclusion that the old mother, the unfortunate lady, did not have any knowledge of any assets much less the compensation and insurance amount to be received by her on the unfortunate death of the son. In fact, under these circumstances, no prudent man can claim that where the death is such an unfortunate one, which is the case here, and out of India in U.S.A., while the assessee was living in India, there could be any knowledge of facts. 6. Even otherwise, in the case of Motilal Padampat Sugar Mills Co. Ltd. v. State of U.P. [1979] 118 ITR 326 at pg. 339, their Lordships of the Hon'ble Supreme Court have observed, "There is no presumption in this country that every person knows the law ; it would be contrary t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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