https://www.taxtmi.com/caselaws?id=98575 A gift of shares can be complete for gift-tax purposes once the donor executes a valid settlement deed, the donee accepts it, and possession is delivered, even if the transfer is not yet registered in the company's books. Registration under company law affects the company's recognition of the transfer, but pending entry the transferee may still acquire beneficial ownership. Where a later settlement supersedes an earlier life-interest arrangement with consent, the transfer is not confined to the donor's life interest and may extend to the full beneficial interest in the shares. en-us Thu, 21 Nov 1968 00:00:00 +0530 Sat, 21 Jan 2012 12:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98575 A gift of shares can be complete for gift-tax purposes once the donor executes a valid settlement deed, the donee accepts it, and possession is delivered, even if the transfer is not yet registered in the company's books. Registration under company law affects the company's recognition of the transfer, but pending entry the transferee may still acquire beneficial ownership. Where a later settlement supersedes an earlier life-interest arrangement with consent, the transfer is not confined to the donor's life interest and may extend to the full beneficial interest in the shares. Case-Laws Companies Law Thu, 21 Nov 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98575