https://www.taxtmi.com/caselaws?id=22777 Charitable sale proceeds credited separately for a specific charitable purpose created an obligation to apply the fund for charity; legal ownership vested in the trust and the balance fell outside the deceased's dutiable estate. Outstanding interest not forming part of the consideration for a loan was not abated under the relevant estate-duty provision and was governed by the general deduction rule. Inclusion of a repayment amount required the Department to establish a nexus between the loan transaction and property derived from the deceased; without proof that the loan represented a gift facilitating it, the statutory inclusion provision did not apply. The charitable balance, interest and repayment amounts were therefore excluded from the principal estate value. en-us Mon, 25 Jun 1990 00:00:00 +0530 Mon, 14 Dec 2009 10:24:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22777 Charitable sale proceeds credited separately for a specific charitable purpose created an obligation to apply the fund for charity; legal ownership vested in the trust and the balance fell outside the deceased's dutiable estate. Outstanding interest not forming part of the consideration for a loan was not abated under the relevant estate-duty provision and was governed by the general deduction rule. Inclusion of a repayment amount required the Department to establish a nexus between the loan transaction and property derived from the deceased; without proof that the loan represented a gift facilitating it, the statutory inclusion provision did not apply. The charitable balance, interest and repayment amounts were therefore excluded from the principal estate value. Case-Laws Income Tax Mon, 25 Jun 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22777