https://www.taxtmi.com/caselaws?id=18815 Estate duty computation under the Estate Duty Act, 1953 turned on the treatment of trust corpus, testamentary bequests and liabilities. The trust property used to meet the Maharani's annuity was held includible in the Maharaja's principal estate because the corpus remained the settlor's property and no separate slice deduction was authorised. The bequest in favour of the Maharanis was also not excludible under section 44, as the obligation arose only on death and did not burden the estate beforehand. For capital-slice calculation under sections 7 and 40, trust income was to be taken as gross income less income-tax, while unsupported items were not to be included in the trust fund. An outstanding executor's advance to the Maharani was treated as a deductible liability of her estate. en-us Tue, 26 Jul 1994 00:00:00 +0530 Mon, 02 Nov 2009 12:01:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18815 Estate duty computation under the Estate Duty Act, 1953 turned on the treatment of trust corpus, testamentary bequests and liabilities. The trust property used to meet the Maharani's annuity was held includible in the Maharaja's principal estate because the corpus remained the settlor's property and no separate slice deduction was authorised. The bequest in favour of the Maharanis was also not excludible under section 44, as the obligation arose only on death and did not burden the estate beforehand. For capital-slice calculation under sections 7 and 40, trust income was to be taken as gross income less income-tax, while unsupported items were not to be included in the trust fund. An outstanding executor's advance to the Maharani was treated as a deductible liability of her estate. Case-Laws Income Tax Tue, 26 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18815