§ Mr. TOUCHEasked the Secretary to the Treasury if he is aware that the estate of the late James Garrett was realised some time ago, but that the executors are unable to make a final distribution to the residuary legatees because the Commissioners of Inland Revenue say that they are not in a position to state that no assessment for Increment Value Duty falls to be made in respect of certain properties belonging to the estate for which provisional valuations have not yet been completed; and, in view of the hardship involved by the delay, can it be directed that a valuation be made at once, as the case is the more oppressive owing to the circumstance that the properties in question consisted of leaseholds and freeholds, principally licensed premises, which realised substantially less than the original cost?
§ Mr. MASTERMANI have made inquiry into this matter and I find that the completion of the valuation is delayed by objections raised to the provisional valuation by the persons interested in the property. I am, however, told that with the information as to the nature of these objections, which is now before them, it will be possible for the Commissioners to state that no assessment to Increment Value Duty will fall to be made on the properties in question.