https://www.taxtmi.com/caselaws?id=152788 Beneficial possession and enjoyment, not merely legal title, determine whether trust property passes on death for estate duty under the Estate Duty Act, 1953. The Gujarat HC treated the deceased's vested half-share, with entitlement to the whole income of that share, as an interest in possession because beneficial enjoyment existed before death and the brothers became entitled to the whole income only after death. On that basis, the settled property was treated as passing on death. The exemption for interests failing before possession did not apply because the deceased's interest had already reached the stage of beneficial possession and did not fail before possession was attained. en-us Mon, 28 Oct 1963 00:00:00 +0530 Wed, 10 Jul 2013 18:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152788 Beneficial possession and enjoyment, not merely legal title, determine whether trust property passes on death for estate duty under the Estate Duty Act, 1953. The Gujarat HC treated the deceased's vested half-share, with entitlement to the whole income of that share, as an interest in possession because beneficial enjoyment existed before death and the brothers became entitled to the whole income only after death. On that basis, the settled property was treated as passing on death. The exemption for interests failing before possession did not apply because the deceased's interest had already reached the stage of beneficial possession and did not fail before possession was attained. Case-Laws Income Tax Mon, 28 Oct 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152788