https://www.taxtmi.com/caselaws?id=71475 A trust corpus transferred to a beneficiary on premature extinguishment of a revocable trust was treated as a gift inter vivos by the settlor where he retained a life interest and an absolute power of revocation, bringing the transfer within the estate duty deeming provisions for dispositions made within two years of death. A claimed liability for unpaid car repair charges was allowed as a deductible debt because the repairs had enhanced the car's value and the amount remained outstanding at death. A miscellaneous liability was disallowed because there was no satisfactory proof of the alleged debt or its outstanding nature at death. The result was inclusion of the trust corpus in the estate, with only partial deduction relief. en-us Fri, 29 Jan 1993 00:00:00 +0530 Mon, 25 Apr 2011 10:50:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71475 A trust corpus transferred to a beneficiary on premature extinguishment of a revocable trust was treated as a gift inter vivos by the settlor where he retained a life interest and an absolute power of revocation, bringing the transfer within the estate duty deeming provisions for dispositions made within two years of death. A claimed liability for unpaid car repair charges was allowed as a deductible debt because the repairs had enhanced the car's value and the amount remained outstanding at death. A miscellaneous liability was disallowed because there was no satisfactory proof of the alleged debt or its outstanding nature at death. The result was inclusion of the trust corpus in the estate, with only partial deduction relief. Case-Laws Income Tax Fri, 29 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71475