COMMISSIONER OF WEALTH TAX Vs. ADMINISTRATOR GENERAL OF WEST BENGAL

JUDGEMENT

(1.) In this reference under Section 27(1) of the Wealth-tax Act, 1957, the assessment to wealth-tax was made on the Administrator-General of West Bengal, representing the estate of Mrs. Sreemah Joseph Jacob Judah Ezekiel, deceased--beneficiary, Mrs. R.M. Ezra --for the assessment year 1960-61, the corresponding valuation date being March 31, 1960.

(2.) Mrs. Ezekiel, by her will executed on the 26th July, 1912, appointed the Administrator-General and her daughter,

(3.) Rebecca, as the executor and executrix and trustees. After certain legacies she directed her executor and executrix and trustees to realise the residue of her estate and transfer one quarter of the capital to her daughter, Rebecca, after three years and another quarter after eight years of her death. This has been done. Of the remaining moiety of her residuary estate, the testator's directions were as follows: