https://www.taxtmi.com/caselaws?id=22297 Section 10 of the Estate Duty Act does not bring the whole gifted property into the estate where the deceased transferred the property but retained only a limited reversionary interest; in that situation, only the value of the retained interest is includible under section 12. A share in an ancestral house may also qualify for exemption under section 33(1)(n) if it was kept reserved for the deceased's residential use, even though the deceased was not actually residing there at death. The estate duty computation was therefore confined to the retained interest in the gifted property and excluded the exempt house share. en-us Tue, 14 Mar 1989 00:00:00 +0530 Wed, 09 Dec 2009 10:43:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22297 Section 10 of the Estate Duty Act does not bring the whole gifted property into the estate where the deceased transferred the property but retained only a limited reversionary interest; in that situation, only the value of the retained interest is includible under section 12. A share in an ancestral house may also qualify for exemption under section 33(1)(n) if it was kept reserved for the deceased's residential use, even though the deceased was not actually residing there at death. The estate duty computation was therefore confined to the retained interest in the gifted property and excluded the exempt house share. Case-Laws Income Tax Tue, 14 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22297