CONTROLLER OF ESTATE DUTY Vs. RAMENDRA NATH BANERJEE

JUDGEMENT

(1.) The facts of the case are as follows:

(2.) Sri Bibhuti Bhusan Banerjee, about whose estate the present proceedings relate, died on August 7, 1961. He left a will dated June 1, 1961, in which Sri Ramendra Nath Banerjee was named as one of the executors who along with others is an accountable person in this case. The other accountable persons are beneficiaries under the above will. The deceased during his lifetime had purchased National Savings Certificates and Postal Cash Certificates of Rs. 15,000 each in the names of his two minor sons, namely, Subrata and Debabrata. The Asst. Controller included the entire value of Rs. 30,000 in the estate of the deceased on the ground that the sons were simply his benamidars. In support of his findings he relied on the following paragraph in the will of the deceased dated June 1, 1961 :

(3.) He rejected the contention of the accountable persons that these certificates had been gifted to the two sons. A copy of the will dated June 1, 1961, is made as annex. "A" forming part of the case.