https://www.taxtmi.com/caselaws?id=70479 A registered and irrevocable settlement deed in favour of the settlor's son was treated as a present transfer, not a testamentary disposition, because it expressly settled the property, reserved only a life interest to the settlor, and created a vested remainder in praesenti. Postponement of possession and enjoyment until the settlor's death did not alter the character of the instrument. Applying the settled principles on interpretation of such deeds and the effect of vested interest under section 19 of the Transfer of Property Act, the transfer was chargeable as a taxable gift under the Gift-tax Act and the assessment was sustained. en-us Mon, 31 Aug 1987 00:00:00 +0530 Sat, 16 Apr 2011 13:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70479 A registered and irrevocable settlement deed in favour of the settlor's son was treated as a present transfer, not a testamentary disposition, because it expressly settled the property, reserved only a life interest to the settlor, and created a vested remainder in praesenti. Postponement of possession and enjoyment until the settlor's death did not alter the character of the instrument. Applying the settled principles on interpretation of such deeds and the effect of vested interest under section 19 of the Transfer of Property Act, the transfer was chargeable as a taxable gift under the Gift-tax Act and the assessment was sustained. Case-Laws Income Tax Mon, 31 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70479