Kolkata Court October 1957 Judgments

In Re Mcneill, Decd. Royal Bank of Scotland Vs. Macpherson and Others.

Court: Kolkata

Reported in: [1959]37ITR16(Cal)

October 29. ROMER L. J., reading the judgment of the court, stated the facts set out above and continued : The question which now call for determination concern the incidence of the estate duty which became leviable upon the passing of the first moiety of the trust estate on the death of Alexander and of both moieties on the death of Eila. It has been contended on behalf of the residuary legatees and was conceded before Upjohn J. that unless they were exempted by the direction 'free of duty' which we have quoted, the legatees would be bound to pay, or suffer by ways of deduction, a part of both sums of estate duty calculated in accordance with the proportion which the legacies bore and bear to the moieties of the trust estate. The extent to which this contention, according to the general law, is well founded is dealt with later in this judgment. We deal first with the effect of the formula 'free of duty' and with the contention of Mr. Cozens-Hardy Horne on behalf of the first defendant...