M P RAIS Vs. CONTROLLER OF ESTATE DUTY

JUDGEMENT

(1.) At the instance of the accountable person the Income-tax Appellate Tribunal, " B " Bench, Allahabad, has stated the case and has referred the following question for the opinion of this court :

(2.) Srimati Kasturi Devi, who was an income-tax and wealth-tax payer, died on 22nd of May, 1964. She left her son, viz., M. P. Rais, as the accountable person. In her wealth-tax returns for and up to the assessment year 1963-64, she used to show jewellery valuded at Rs. 30,000 as part of her wealth. After her death the accountable person filed estate duty return showing the value of the jewellery left by Smt. Kasturi Devi as "nil".

(3.) The Asst. Controller observed that in the wealth-tax returns filed by her for the years 1961-62 to 1963-64, i.e., up to October 6, 1962, the deceased had shown the value of the jewellery owned by her as Rs. 30,000 but somehow in the wealth-tax returns for the period ending October 25, 1963, and May 22, 1964 (the dates on which Smt. Kasturi Devi died) the value of jewellery had been shown as Rs. 8,000 and " nil ". As there was no evidence on record to show that the lady had left or had otherwise disposed of the ornaments, the Asst. Controller included Rs. 30,000 in computing the value of the estate left by her.