https://www.taxtmi.com/caselaws?id=7469 Properties settled in trust were treated as includible in the estate where no effective conveyance to trustees was executed and the settlor had not divested title. Gifted properties were also brought into the chargeable estate where the deceased retained enjoyment and control, including collection and use of rents, so the donees did not obtain exclusive possession. Liabilities claimed by the accountable person were disallowed under the abatement rule because they were traceable to property derived from the deceased. The article thus explains that section 10 applies to retained ownership or continued benefit, while section 46 limits allowance of liabilities linked to derived property. en-us Mon, 25 Nov 1968 00:00:00 +0530 Fri, 20 Feb 2009 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7469 Properties settled in trust were treated as includible in the estate where no effective conveyance to trustees was executed and the settlor had not divested title. Gifted properties were also brought into the chargeable estate where the deceased retained enjoyment and control, including collection and use of rents, so the donees did not obtain exclusive possession. Liabilities claimed by the accountable person were disallowed under the abatement rule because they were traceable to property derived from the deceased. The article thus explains that section 10 applies to retained ownership or continued benefit, while section 46 limits allowance of liabilities linked to derived property. Case-Laws Income Tax Mon, 25 Nov 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7469