SUNANDA BOSE Vs. UNION OF INDIA UOI

JUDGEMENT

(1.) With regard to the estate left by the late Hena Roy Chowdhury, who died on March 51, 1975, a dispute has arisen between the parties regarding the value of the estate and the estate duty which the petitioners as the legal heirs of the deceased are liable to pay thereupon.

(2.) The case of the petitioners is that they are liable to pay duty on the value as returned by them, i.e., Rs. 2,23,222.22, whereas the respondents have passed the impugned order whereby the estate duty has been levied on the two portions of the property valued at Rs. 2,71,500 and Rs. 1,90,000. This value was arrived at on the basis of the valuation report submitted by the valuation cell.

(3.) The petitioners' short grievance is that while passing the impugned assessment order on June 25, 1987, the respondents totally ignored and overlooked the circular issued by the Central Board of Direct Taxes, vide their Instruction No. 1758. This instruction was issued on 15/19th May, 1987. It means that as on the date of the passing the impugned order on June 25, 1987, the instruction in question was admittedly in operation. In other words, it also means that the Assessing Officer was obliged to follow the instructions while disposing of the valuation case of the petitioners.