https://www.taxtmi.com/caselaws?id=8114 Gifted property taken immediately into a continuing business or partnership arrangement may generate income that is treated as accruing from the gifted property itself. Under the Estate Duty Act, property passing under a disposition made within two years of death, together with income accrued on that property up to the date of death, formed part of the estate. On the facts, the post-gift profit arose from the business operated with the gifted stock-in-trade, cash and cheques, rather than from an independent investment made by the donees. The amount was therefore includible in the estate and was not excluded as a separate post-gift gain. en-us Mon, 23 Nov 1970 00:00:00 +0530 Sat, 28 Mar 2009 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8114 Gifted property taken immediately into a continuing business or partnership arrangement may generate income that is treated as accruing from the gifted property itself. Under the Estate Duty Act, property passing under a disposition made within two years of death, together with income accrued on that property up to the date of death, formed part of the estate. On the facts, the post-gift profit arose from the business operated with the gifted stock-in-trade, cash and cheques, rather than from an independent investment made by the donees. The amount was therefore includible in the estate and was not excluded as a separate post-gift gain. Case-Laws Income Tax Mon, 23 Nov 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8114