Report No. 52
10. Recommendation.-
We accordingly recommend that the following section should be inserted1 in the Estate Duty Act, 1953
"36A. (1) Where it is proved to the satisfaction of the Controller that the property has, within six months of the deceased's death, been acquired without compensation under any law, the value of such property shall not be taken into account for the purposes of this Act.
(2) Where it is proved to the satisfaction of the Controller that the property has, within six months of the deceased's death, been acquired by or under any law which provides for compensation, the amount of such compensation shall be substituted for the value of the property for the purpose of this Act."
We should, before we part with this Report, place on record our warm appreciation of the assistance we have received from Mr. Bakshi, Secretary of the Commission, in dealing with the problem covered by the Report. As usual, Mr. Bakshi first prepared a draft which was treated as the Working Paper. The draft was considered by the Commission point by point, and, in the light of the decisions taken tentatively by the Commission, Mr. Bakshi prepared a final draft for consideration and approval by the Commission. Throughout the study of this problem, Mr. Bakshi took an active part in our deliberations, and has rendered very valuable assistance to the Commission.
1. This is a very tentative draft. It can be put as section 36A.
P.B. Gajendragadkar, Chairman.
V.R. Krishna Iyer, Member.
P.K. Tripathi, Member.
S.S. Dhavan, Member.
P.M. Bakshi, Secretary.
New Delhi,
Dated: 4th December, 1972.
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