BEHARI LAL MATANHELIA Vs. CONTROLLER OF ESTATE DUTY

JUDGEMENT

(1.) AT the instance of the accounting party, Behari Lal Matanhelia, the Central Board of Direct Taxes has referred the following question for the opinion of this court, under Section 64(1) of the Estate Duty Act:

(2.) ONE Sri Kanhaiyalall Matanhelia died on 21st July, 1957. Beharilal Matanhelia, as the accountable person, filed a statement before the Assistant Controller, Estate Duty, Varanasi, declaring the total value of the properties passing or deemed to pass on the death of Kanhaiyalall as Rs. 1,72,670. After considering the material produced before him, the Assistant Controller determined the principal value of the estate passing or deemed to pass on the death of Kanhaiyalall as Rs. 3,00,141 and calculated the duty payable thereon. In computing the principal value of the estate passing on the death of Kanhaiyalall, the Assistant Controller included a sum of Rs. 48,513 being the credit balance standing in the account of Smt. Bridhika Devi (wife of the deceased) in the books of the firm, Messrs. Sheo Prasad Kanhaiyalall, Bahraich, in which the deceased was a partner.

(3.) AT the instance of the accountable person the Board has now referred the aforementioned question for the opinion of this court.