ISMAIL MULLA GULAMALLY Vs. CONTROLLER OF ESTATE DUTY

JUDGEMENT

(1.) This reference under the E.D. Act is a sequel to the death of one Gulamally Akbarally on 1st August, 1960, leaving behind him his widow, three sons and four daughters. There are three questions raised in this reference and it will be convenient to take each question separately. The first question runs as follows :

(2.) The facts relating to this question are : The deceased was the owner of a house property bearing No. 19, Venkatachala Mudali Street, Park Town, Madras. On 24th August, 1951, he executed a deed of gift settling this property in favour of his two sons, Abdulla and Abbas, who were then minors aged 13 years and 4 years respectively. The gift was accepted by their guardian the donor himself. The property was valued for the purpose of stamp duty at Rs. 77,100.

(3.) The donees (through their guardian) realised the rent from this property from the tenants and deposited various amounts out of such rent realisations in the proprietary concern of the deceased. At the time of the death of the deceased the amount standing to their credit came to Rs. 22,820.