GOPISETTY CHANDRAMOULI Vs. CONTROLLER OF ESTATE DUTY

JUDGEMENT

(1.) THE Central Board of Direct Taxes, New Delhi, has referred under Section 64(1) of the Estate Duty Act (hereinafter referred to as the Act) the following questions for the opinion of this court:

(2.) THE facts which have given rise to the reference and as found in the statement of the case are as follows :

(3.) WITH regard to the item of jewellery, the Assistant Controller included the amount of Rs. 32,450 as the value of gold and silver belonging to the deceased and included the same in the estate. WITH regard to the N.G.P. notes and the house properties, the Assistant Controller found that these properties were admittedly gifted by the deceased but that he was not completely excluded from the benefit or enjoyment of the said properties and that the value, of the said properties was therefore included in the estate of the deceased under the provisions of Section 10 of the Act.