- (1.) IN this petition, under Section 64(1) of the ED Act, 1953, the Tribunal has referred the following questions for our opinion : Question in RA No. 13/Jp/84 'Whether on the facts and in the circumstances of the case, the Tribunal is justified in holding that the estate left by the deceased belonged to the HUF and only value of 1/4th share therein is assessable to estate duty in the hands of the Accountable Person. Question in RA No. 14/Jp/84 Whether on the facts and in the circumstances of the case, the Tribunal is justified in holding that the following assets left by the deceased were not his personal assets : Rs.1. Cash in hand 3,6762. Money in bank 24,0363. Amount due in insurance policies 1,28,296'
(2.) ON the death of H.H. Maharaja Rana Harish Chandra, Accountable Person - -Inder Jeet Singh has submitted the return and claimed HUF status of the property left by H.H. Maharaja Rana Harish Chandra of Jhalawar and claimed that only 1/4th share of the property of HUF is liable to the. estate duty,' The Asstt. CED did not accept the claim of the Accountable Person and he treated the property left by H.H. Maharaja Rana Harish Chandra as property left by individual. During the course of assessment, the Asstt. CED also noticed that the deceased had left cash in hand Rs. 3,676 and money in bank Rs. 24,036 and the amount due in the insurance policy Rs. 1,28,296. The Asstt. CED has taken all those amounts as amounts belonged to H.H. Maharaja Rana Harish Chandra in his individual capacity and taxed accordingly, In appeal before the Appellate CED, the Appellate CED has accepted the claim of the Accountable Person that estate left by the deceased belonged to HUF and only 1/4th of the share of the estate can be taxed under the ED Act. The Appellate CED has also accepted the claim of the Accountable Person regarding other amounts which were in dispute, except the cash in hand, money in bank and the amount due under the insurance policy. That order has been challenged in appeal by the CED as well as by the Accountable Person Shri Inder Jeet Singh.
(3.) THE Tribunal has confirmed the view taken by the Appellate CED, holding that the estate left by H.H. Maharaja Rana Harish Chandra belonged to the HUF and that estate has not been held by him in his individual capacity. The Tribunal has also accepted the claim of the Accountable Person that the money in hand and money in bank as well as amount of insurance policy belonged to HUF.;