JUDGMENT

SABYASACHI MUKHARJI, J.:— These two appeals are from the judgment and order of the Madras High Court dated 20th September, 1973 by certificates of fitness granted by the High Court, under S. 65 of the Estate Duty Act, 1953, hereinafter called the Act.

2. Civil Appeal No. 2086 of 1974 is by accountable persons and Civil Appeal No. 67 of 1975 is by the revenue. The judgment under appeal is reported in 94 ITR at page 323.

3. The accountable persons are the sons of one fate M. Chindambaram Chettiar hereinafter called the deceased. The deceased was the karta of a Hindu undivided family. He gave his first son Muthiah, in adoption to his divided paternal uncle Pethachi Chettiar, and adoption ceremony was held on 7th June, 1931. Subsequently his second son, also called Pethachi, was born in 1933. with whom the deceased was joint throughout his life.

4. On 21st February, 1954, prior to proceeding to Malaya by air, the deceased took out a personal accident insurance policy with the United India Fire and General Insurance Company Ltd. (hereinafter called the Insurance Company). Under the terms of the said policy which was to be in force for one month, the Insurance Company had agreed t