https://www.taxtmi.com/caselaws?id=62438 Immovable properties settled under a 5 March 1961 deed were treated as having been placed in trust immediately, rather than remaining the settlor's absolute estate for estate duty purposes. The deed was construed as a whole, with emphasis on the settlor's long use of the properties for the Ashram, the description of the properties and trustees, the settlor's age and circumstances, and the continued post-execution management of the properties. Reservation of management powers during the settlor's lifetime was consistent with her acting as sole trustee for life, with trustees succeeding after death. Accordingly, the properties did not pass on death under section 6 of the Estate Duty Act, 1953 and were not includible in the principal value of the estate. en-us Mon, 20 Feb 1978 00:00:00 +0530 Mon, 23 Jan 2012 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62438 Immovable properties settled under a 5 March 1961 deed were treated as having been placed in trust immediately, rather than remaining the settlor's absolute estate for estate duty purposes. The deed was construed as a whole, with emphasis on the settlor's long use of the properties for the Ashram, the description of the properties and trustees, the settlor's age and circumstances, and the continued post-execution management of the properties. Reservation of management powers during the settlor's lifetime was consistent with her acting as sole trustee for life, with trustees succeeding after death. Accordingly, the properties did not pass on death under section 6 of the Estate Duty Act, 1953 and were not includible in the principal value of the estate. Case-Laws Income Tax Mon, 20 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62438