Andhra Pradesh Court March 1983 Judgments

Controller of Estate Duty Vs. Estate of Late K. Gangareddy

Court: Andhra Pradesh

Reported in: [1983]143ITR937(AP)

Seetharama Reddy, J.1. The question which arises on reference of the Revenue under s. 64(1) of the E.D. Act is : 'Whether, on the facts and in the circumstances of the case, the rebate under section 35(3) of the Estate Duty Act (hereinafter referred to as 'the Act') is allowable in view of the provisions of section 34 of the Act ?' 2. The Controller of Estate Duty, Hyderabad, applied to the Income-tax Appellate Tribunal to refer the question of law, referred to above, said to be arising out of the order of the Tribunal, dated July 3, 1976, which arises under the following circumstances. 3. The late Sri K. Ganga Reddy died on July 5, 1972, at a time when he was member of the HUF consisting of himself and his six sons. Apart from his share in the joint family property, he also had certain separate immovable and movable properties. The Asst. Controller, while computing the principal value of the estate, took the value of the free estate at Rs. 1,08,530 and the value of the share of the li...