https://www.taxtmi.com/caselaws?id=16500 A deed that, on its true construction, transfers the corpus of property absolutely under Muslim law cannot be cut down by clauses prohibiting alienation or directing devolution after the donee's death. Such restrictions are repugnant and void, while a limited interest may be created only in the usufruct. On the terms of the 1953 settlement, the assessee therefore took absolute ownership of the properties, and the later gift-over provisions in favour of his children were ineffective. The assessee's 1969 settlements in favour of his children were accordingly treated as taxable gifts under the Gift-tax Act. en-us Tue, 06 Jan 1998 00:00:00 +0530 Tue, 08 Sep 2009 12:04:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16500 A deed that, on its true construction, transfers the corpus of property absolutely under Muslim law cannot be cut down by clauses prohibiting alienation or directing devolution after the donee's death. Such restrictions are repugnant and void, while a limited interest may be created only in the usufruct. On the terms of the 1953 settlement, the assessee therefore took absolute ownership of the properties, and the later gift-over provisions in favour of his children were ineffective. The assessee's 1969 settlements in favour of his children were accordingly treated as taxable gifts under the Gift-tax Act. Case-Laws Income Tax Tue, 06 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16500