L. JOSE KANNA MPILLY vs CONTROLLER OF ESTATE DUTY, KERALA — 1972 PTD 581

Citation: 1972 PTD 581

Court: Kerala High Court

Year: 1968

Decision Date: 1968-10-04

Parties: L. JOSE KANNA MPILLY vs CONTROLLER OF ESTATE DUTY, KERALA

Headnotes

Case cited as 1972 PTD 581

Judgment Text

Court Name: Kerala High Court Judge(s): M. U. Isaac, P. Narayan Pillai Title: L. JOSE KANNA MPILLY vs CONTROLLER OF ESTATE DUTY, KERALA Case No.: Income-tax Referred Case No. 36 of 1967 Date of Judgment:1968-10-04 Reported As: 1972 PTD 581 Result: questions in the affirmative JUDGMENT JUDGMENT ISAAC, J.-----This is a reference made, by the Madras Bench of the Income-tax Appellate Tribunal under section 64(1) of the Estate Duty Act, 1953, on the application of the assessee. The questions referred are: "(1) Whether, on the facts and in the circumstances of this case, the sum of Rs. 25,000 deposited by the assessee in the bank in the name of his minor son, K. L. Baby, on January 2, 1957. Is includible in the estate of the deceased under section 10 of the Estate Duty Act ? (2) Whether, on the facts and in the circumstances of the case, the value of the agricultural properties gifted by the deceased to his sons under the gift deed dated December 14, 1956, is includible in the estate of the deceased under sec--tion 10 of the Estate Duty Act ?" Kannampilly Lonappan Lonakunju died on December 14, 1962. On January 2, 1957, he deposited a sum of Rs. 25,000 in the Catholic Syrian Bank Ltd., in the name of his minor son, K. L. Baby. The deceased was the guardian; and in that capacity, he drew the interest from the bank. He did not maintain any accounts regarding the amount so withdrawn. On December 14, 1956, he executed a deed of gift in respect of some immovable properties in favour…

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