CONTROLLER OF ESTATE DUTY, GUJARAT vs CHANDRAVADAN AMRATLAL — 1972 PTD 334

Citation: 1972 PTD 334

Court: Gujarat High Court

Year: 1971

Decision Date: 1971-12-31

Parties: CONTROLLER OF ESTATE DUTY, GUJARAT vs CHANDRAVADAN AMRATLAL JUDGMENT

Headnotes

Case cited as 1972 PTD 334

Judgment Text

Court Name: Gujarat High Court Judge(s): P. N. Bhagabati, Divan Title:CONTROLLER OF ESTATE DUTY, GUJARAT vs CHANDRAVADAN AMRATLAL JUDGMENT Reported As: 1972 PTD 334 Result: N/A Judgment JUDGMENT DIVAN, J.---In this reference under section 64(1) of the Estate Duty Act (hereinafter referred to as the Act), the following questions have been referred to us by the Tribunal: "(1) Whether, on the facts and in the circumstances of this case, the gifts of Rs. 10,000 each to the three sons purported to have been made on October 20, 1946, were valid in law ? (2) Whether, even if the gifts of Rs. 10,000 each were valid, the same would be hit by the provisions of section 10 of the Estate Duty Act ? (3) Whether, on the facts and in the circumstances of the case, the provisions of section 10 would apply to the gift of the sum of Rs. 24,000 (4) Whether the accumulated interest on the sum of Rs. 30,000 could be included in the computation of the principal value of the estate ?" The facts giving rise to this reference are as follows: This reference is in connection with the estate of Amritlal alias Bhailalbhai, who died on February 21, 1962. The deceased was a partner along with two other persons, Revashanker and Nandlal, in a partnership firm which carried on business in the firm name and style of Messrs Revashanker Balashanker. Each the three partners had an equal share in the profits of the Firm. In S. Y. 2002, the deceased had to his credit in the books the partnership firm a sum of Rs.…

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