Controller of Estate Duty Vs Laxminarayan A. Suri

Bombay High Court 16 Apr 1987 E.D. Ref. No. 9 of 1975 (1987) 04 BOM CK 0056

Bench: Division Bench

Acts Referenced

Judgement Snapshot

Case Number

E.D. Ref. No. 9 of 1975

Hon'ble Bench

T.D. Sugla, J; S.P. Bharucha, J

Acts Referred

Estate Duty Act, 1953 - Section 10, 27(1)

Judgement Text

Translate:

Bharucha, J.@mdashThe question that arises in this reference reads thus :

"Whether, the Tribunal was right in excluding the value of 85% of the share in the goodwill of the firm of M/s. Suri Sports Industries which was included by the Assistant Controller in the dutiable estate u/s 10 read with s. 27(1) of the Estate Duty Act of 1953 ?"

2. Counsels are agreed that the question must be answered in the affirmative and in favour of the accountable person in view of this Court''s judgment in Controller of Estate Duty, Bombay City-II Vs. Ramesh Rajaram Sakhalkar, . The question is so answered. No order as to costs.

Supreme Court