CONTROLLER OF ESTATE DUTY, MADRAS vs C. R. RAMACHANDRA GOUNDER — 1971 PTD 953

Citation: 1971 PTD 953

Court: Madras High Court

Year: 1968

Decision Date: 1968-11-25

Parties: CONTROLLER OF ESTATE DUTY, MADRAS vs C. R. RAMACHANDRA GOUNDER

Headnotes

Case cited as 1971 PTD 953

Judgment Text

Court Name: Madras High Court Judge(s): K. Veeraswa mi, Ramaprasada Rao Title: CONTROLLER OF ESTATE DUTY, MADRAS vs C. R. RAMACHANDRA GOUNDER Case No.: Cases Nos. 103 and 104 of 1965 Date of Judgment:1968-11-25 Reported As: 1971 PTD 953 Result: N/A JUDGMENT JUDGMENT VEERASWAMI, J.----In the first of these references arising out of the Tribunal's order, the question substantially is whether the property in Avinasi Road, Coimbatore, as well as a sum of Rs. 1 lakh passed at the death of one C. S. Ramiah Gounder on May 5, 1957, and, as such, are dutiable under the provisions of the Estate Duty Act, 1953. He was a partner of a firm, called N. Desai Gounder & Co. At Coimbatore, and the property was in the occupation of the firm as a tenant. In August 1953, by a registered document, he settled the property absolutely and irrevocably on his two sons, C. R. Lingiah and C. R. Krishnan. Even thereafter the film continued to be in the occupation of the premises, but the rents accruing were thenceforward credited in equal shares to the relative accounts of the donees in its books. The partnership came to an end on April 30, 1957. On March 30, 1953, long before its dissolution, the firm was asked by Ramiah Gounder to transfer from his loan account with it a sum of Rs. 1 lakh to the credit of each of his sons in equal shares of Rs. 20,000 by opening separate accounts in their individual names in the firm's books. The Tribunal, differing from the revenue, held that the Immovable property…

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