https://www.taxtmi.com/caselaws?id=62144 Section 10 of the Estate Duty Act, 1953 applies only where the donor is not fully excluded from enjoyment of the gifted property and any continued benefit is clearly referable to the gift itself; on these facts, an absolute cash gift of Rs. 15,000 to the son was not includible in the estate. The firm's long-standing business was held to have goodwill, so the deceased's share in that goodwill was includible, but the assessment value was found excessive and reduced to Rs. 3,000. The estate duty position was therefore sustained only to the limited extent of the revised goodwill valuation. en-us Fri, 27 Jun 1980 00:00:00 +0530 Tue, 18 Jan 2011 12:49:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62144 Section 10 of the Estate Duty Act, 1953 applies only where the donor is not fully excluded from enjoyment of the gifted property and any continued benefit is clearly referable to the gift itself; on these facts, an absolute cash gift of Rs. 15,000 to the son was not includible in the estate. The firm's long-standing business was held to have goodwill, so the deceased's share in that goodwill was includible, but the assessment value was found excessive and reduced to Rs. 3,000. The estate duty position was therefore sustained only to the limited extent of the revised goodwill valuation. Case-Laws Income Tax Fri, 27 Jun 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62144