Supreme Court · 1998 INSC 263 · Decided 20 July 1998
P. Venkatarama Reddy v. Controller of Estate Duty
- Court
- Supreme Court of India
- Citation
- 1998 INSC 263 · [1998] 3 S.C.R. 806
- Case number
- CIVIL APPEAL No. 356/1985
- Decided
- 20 July 1998
- Bench
- SUJATA V. MANOHAR, D.P. WADHWA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Estate Duty Act, J953 : Sections 2(15) and (16), J4(J), 34 and 38. Property-Passing on death-Insured assigned Life Insurance Policies C during his lifetime to his grandchildren-After such assignment, insured retained possession of Policies and kept them alive-Insured also repaid loans or parts policies constitute property of the deceased-­ Contention that deceased had no interest in the policies after assignment, rejected D Section 34(3)-Property-Passing on death-One "in which the deceased never had an interest"-Estate duty-Rate of-Determination a/­
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