https://www.taxtmi.com/caselaws?id=15464 A wakf settlement was not brought within section 12 of the Estate Duty Act, 1953 because the settlor had irrevocably divested ownership and reserved no life interest, reversionary right, or other beneficial interest linked to death. The office of mutavalli was treated as distinct from ownership, so the mere fact that the settlor later became mutavalli did not amount to retention of an interest in the settled property. The property was therefore validly transferred to the wakf and its value was excluded from the deceased's estate, with the issue decided in favour of the assessee. en-us Thu, 16 Sep 1999 00:00:00 +0530 Thu, 06 Aug 2009 17:11:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15464 A wakf settlement was not brought within section 12 of the Estate Duty Act, 1953 because the settlor had irrevocably divested ownership and reserved no life interest, reversionary right, or other beneficial interest linked to death. The office of mutavalli was treated as distinct from ownership, so the mere fact that the settlor later became mutavalli did not amount to retention of an interest in the settled property. The property was therefore validly transferred to the wakf and its value was excluded from the deceased's estate, with the issue decided in favour of the assessee. Case-Laws Income Tax Thu, 16 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15464