Banerjee, J. - (1.) This is a reference, under Section 64(1) of the Estate Duty Act, 1953, made in circumstances hereinafter stated.
(2.) One Satish Chandra Hazara died on July 28, 1956. At the time of his death he owned various movable and immovable properties. The Assistant Controller of Estate Duty Calcutta who was the assessing authority, determined the principal value of the estate at Rs. 6,60,597 and the duty payable thereon as Rs 83,180 10 P.
(3.) In arriving at the principal value of the estate, the Assistant Controller: (1) added back a sum of Rs 35.000 to the amount of 'cash in house' namely a sum of Rs. 10,216 only as shown in the statement of account in Form E D 1 on the following ground: "On an examination of the deceased's bank accounts it is found that the deceased made huge withdrawals just a few months before his death. As to what happened to these withdrawals, the accountable person could not explain. In view of this an addition of Rupees 85,000 is made to the cash in the house as shown in E. D. 1". (2) estimated the value of the share of the deceased in a partnership concern known at Biri Trading Company, in the following manner. JUDGEMENT_629_AIR(CAL)_1967Html1.htm (3) estimated the marketable value of premises No. 34A and 34B, Bhupendra Bose Avenue, Calcutta at Rs. 1,40,000. (4) estimated the market value of premises Nos. 22 to 27, ward No. 3, Bally Municipality at Rs. 47,500. We are not concerned with the other items of valuation made by the Assistant Controller.;