Supreme Court of India
N.K. Sanghi, Partner of M/s Sanghi Brothers v. Controller of Estate Duty, Rajasthan
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From the headnote
Estate Duty Act, 1953-Sections 10-'--Assessee-Gifted Rs.1 Lack to four sons-Amount invested by sons in partnership firm-Assessee and sons had shares in. partnership-Amount given as Gift-Whether includible in estate of assessee-Liability for estate duty-Whether arises. One Motilal Sangbi made a gift of ks.25,000 each to bis four sons, on September 1, 1955. These amounts were invested by the sons in the firm known as Sangbi Brothers which was constituted by the said Moti lal soon after the gifts were made. Motilal Sanghi had an 8 annas share in the firm; the four sons had a share of 2 annas
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