ASSISTANT CONTROLLER OF ESTATE DUTY & ORS. vs PRAYAG DASS AGARWAL

The Supreme Court held that under Section 52(1) of the Estate Duty Act, 1953, the Central Government is obligated to consider an offer of property in satisfaction of estate duty if an agreement on price is reached. The Court affirmed the High Court's decision that the Government cannot refuse the offer without valid reasons, emphasizing that Section 52(1) provides an additional mode for recovering estate duty. The appeal was dismissed, upholding the High Court's directive for the Government to reassess the application on its merits.