https://www.taxtmi.com/caselaws?id=9008 Section 10 of the Estate Duty Act, 1953 applies only where the donee does not genuinely assume possession and enjoyment of the gifted property and the donor retains a benefit referable to the gift itself. Where money gifted by the deceased remained with a partnership firm and was used in its business, that fact alone did not establish a reserved benefit attached to the gift. Any advantage the donor enjoyed as a partner arose from the partnership relationship, not from the gift. On that reasoning, section 10 was not attracted and the gifted sum was excluded from the deceased's estate. en-us Mon, 07 Jan 1974 00:00:00 +0530 Thu, 18 Jun 2009 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9008 Section 10 of the Estate Duty Act, 1953 applies only where the donee does not genuinely assume possession and enjoyment of the gifted property and the donor retains a benefit referable to the gift itself. Where money gifted by the deceased remained with a partnership firm and was used in its business, that fact alone did not establish a reserved benefit attached to the gift. Any advantage the donor enjoyed as a partner arose from the partnership relationship, not from the gift. On that reasoning, section 10 was not attracted and the gifted sum was excluded from the deceased's estate. Case-Laws Income Tax Mon, 07 Jan 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9008