https://www.taxtmi.com/caselaws?id=7556 A discretionary beneficial entitlement under a settlement, combined with controlling powers as managing trustee and a clause enabling payments for the settlor's own benefit from income or corpus, was treated as a reserved life interest and attracted inclusion under section 12(1) of the Estate Duty Act, 1953. By contrast, property settled by Bai Jasud was not caught by section 12 because that provision applies only to settlements made by the deceased, and it was not includible under section 6 because the deceased had only limited management and conditional payment powers, not a general power of disposition or competence to dispose of the property at death. en-us Sat, 21 Sep 1968 00:00:00 +0530 Wed, 25 Feb 2009 19:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7556 A discretionary beneficial entitlement under a settlement, combined with controlling powers as managing trustee and a clause enabling payments for the settlor's own benefit from income or corpus, was treated as a reserved life interest and attracted inclusion under section 12(1) of the Estate Duty Act, 1953. By contrast, property settled by Bai Jasud was not caught by section 12 because that provision applies only to settlements made by the deceased, and it was not includible under section 6 because the deceased had only limited management and conditional payment powers, not a general power of disposition or competence to dispose of the property at death. Case-Laws Income Tax Sat, 21 Sep 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7556