https://www.taxtmi.com/caselaws?id=21932 A life interest in baronetcy trust property, enjoyed as an incident of office, was treated as outside estate duty because it had been assigned before death and did not pass on death within section 5; the section 7 charging provision did not independently apply where section 7(4) excluded the charge. The Bombay HC also applied section 10 by holding that gifted property is caught only if the donor is not excluded from possession and enjoyment; since no reserved benefit was shown, Garden Reach was not includible, and the furniture lying there could not be separately taxed. The disputed properties were therefore excluded from the principal value of the estate. en-us Tue, 23 Apr 1991 00:00:00 +0530 Fri, 04 Dec 2009 12:41:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21932 A life interest in baronetcy trust property, enjoyed as an incident of office, was treated as outside estate duty because it had been assigned before death and did not pass on death within section 5; the section 7 charging provision did not independently apply where section 7(4) excluded the charge. The Bombay HC also applied section 10 by holding that gifted property is caught only if the donor is not excluded from possession and enjoyment; since no reserved benefit was shown, Garden Reach was not includible, and the furniture lying there could not be separately taxed. The disputed properties were therefore excluded from the principal value of the estate. Case-Laws Income Tax Tue, 23 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21932