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Taxability of amount received by way of inherittance

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(Querist)
12 July 2012 Dear Sir,

Situation

Mr.X's father has died on 31-12-2011 and he received Rs.10,00,000 by way inherittance.

Doubt.

is it taxable or not?
Kindly provide the section also.
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
12 July 2012
if this amt received under will or an irrevocable trust than it won't treated transfer hence cant be liable for tax...

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