https://www.taxtmi.com/caselaws?id=69701 A reduction in a partner's share on the bona fide admission of a new partner did not constitute a disposition operating as an immediate gift under section 9 of the Estate Duty Act. Section 9 applies only where property passes under a disposition made by the deceased as an immediate gift inter vivos, and the gift concept is controlled by section 27. Because the admitted partner was outside the statutory definition of relative, and the transaction was supported by consideration and entered into for business reasons, the arrangement was not a deemed gift. The amount was therefore not chargeable to estate duty. en-us Thu, 27 Jul 1978 00:00:00 +0530 Mon, 11 Apr 2011 16:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69701 A reduction in a partner's share on the bona fide admission of a new partner did not constitute a disposition operating as an immediate gift under section 9 of the Estate Duty Act. Section 9 applies only where property passes under a disposition made by the deceased as an immediate gift inter vivos, and the gift concept is controlled by section 27. Because the admitted partner was outside the statutory definition of relative, and the transaction was supported by consideration and entered into for business reasons, the arrangement was not a deemed gift. The amount was therefore not chargeable to estate duty. Case-Laws Income Tax Thu, 27 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69701