Section 39. Valuation of interest in coparcenary property ceasing on death

39. Valuation of interest in coparcenary property ceasing on death.— (1) The value of the benefit accruing or arising from the cesser of a coparcenary interest in any joint family property governed by the Mitakshara school of Hindu law which ceases on the death of a member thereof shall be the principal value of the share in the joint family property which would have been allotted to the deceased had there been a partition immediately before his death. (2) The value of the benefit accruing or arising from the cesser of an interest in the property of a tarwad or tavashi governed by the Marumakkat-tayam rule of inheritance or of a kutumba or kavaru governed by the Aliya-santana rule of inheritance which ceases on the death of a member thereof shall be the principal value of the share in the property of the tarwad or tavashi or, as the case may be, the kutumba or kavaru which would have been allotted to the deceased had a partition taken place immediately before his death. (3) For the purpose of estimating the principal value of the joint family property of a Hindu family governed by the Mitakshara, Marumakkat-tayam or Aliya-santana law in order to arrive at the share which would have been allotted to the deceased had a partition taken place immediately before his death, the provisions of this Act, so far as may be, shall apply as they would have applied if the whole of the joint family property had belonged to the deceased.