https://www.taxtmi.com/caselaws?id=22344 A life insurance policy taken under section 6 of the Married Women's Property Act, 1874 creates a trust for the wife, and the beneficiary acquires a vested interest from the date the policy is effected. The wife's interest extended to the policy's surrender value at death, so that value was treated as property passing on her death under the Estate Duty Act, 1953. Because the interest already existed during her lifetime, the surrender value did not fall within the exclusion for property arising only on death and was properly included in the aggregate estate for estate duty computation. en-us Wed, 20 Mar 1991 00:00:00 +0530 Wed, 09 Dec 2009 13:50:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22344 A life insurance policy taken under section 6 of the Married Women's Property Act, 1874 creates a trust for the wife, and the beneficiary acquires a vested interest from the date the policy is effected. The wife's interest extended to the policy's surrender value at death, so that value was treated as property passing on her death under the Estate Duty Act, 1953. Because the interest already existed during her lifetime, the surrender value did not fall within the exclusion for property arising only on death and was properly included in the aggregate estate for estate duty computation. Case-Laws Income Tax Wed, 20 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22344