https://www.taxtmi.com/caselaws?id=22608 Amounts gifted by a deceased to his wife and son, and later deposited by them with the firm in which he was a partner, were not includible in the principal value of the estate under section 10 of the Estate Duty Act, 1953. On the undisputed facts, the donees first took the gifted sums into their own accounts before placing them with the firm, so the deceased could not be treated as retaining the possession or benefit required for the deeming provision. Applying the binding Supreme Court principle on the scope of section 10, the estate duty inclusion provision was not attracted and the issue was answered in favour of the assessee. en-us Tue, 05 Jun 1990 00:00:00 +0530 Fri, 11 Dec 2009 13:52:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22608 Amounts gifted by a deceased to his wife and son, and later deposited by them with the firm in which he was a partner, were not includible in the principal value of the estate under section 10 of the Estate Duty Act, 1953. On the undisputed facts, the donees first took the gifted sums into their own accounts before placing them with the firm, so the deceased could not be treated as retaining the possession or benefit required for the deeming provision. Applying the binding Supreme Court principle on the scope of section 10, the estate duty inclusion provision was not attracted and the issue was answered in favour of the assessee. Case-Laws Income Tax Tue, 05 Jun 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22608