https://www.taxtmi.com/circulars?id=10336 Where donees do not immediately and bona fide assume exclusive possession and enjoyment of gifted property and do not thereafter retain it to the entire exclusion of the donor or any benefit to him, the part of the property itself so not assumed shall be deemed to pass on the donor's death and its value is includible in the donor's estate; this modifies prior Board guidance that looked only to the donor's retained interest. en-us Thu, 19 Jun 1975 00:00:00 +0530 Mon, 13 Jun 2011 16:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10336 Where donees do not immediately and bona fide assume exclusive possession and enjoyment of gifted property and do not thereafter retain it to the entire exclusion of the donor or any benefit to him, the part of the property itself so not assumed shall be deemed to pass on the donor's death and its value is includible in the donor's estate; this modifies prior Board guidance that looked only to the donor's retained interest. Circulars Income Tax Thu, 19 Jun 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10336