https://www.taxtmi.com/caselaws?id=25502 Estate duty under the Estate Duty Act, 1953 was held not to arise where a supplemental family trust conferred vested beneficial interests on the beneficiaries from inception and the settlor's death merely removed a restriction on immediate enjoyment. The trustees had no power to revoke the trust or divert income, and the settlor had no power to destroy the beneficiaries' interests. Because death did not change beneficial ownership of the corpus, no property passed on death within section 5. Prior interpretation of the same trust deed and authorities on accumulation trusts supported the conclusion that the beneficiaries' rights were determinate and already vested. en-us Tue, 17 Feb 1987 00:00:00 +0530 Fri, 29 Jan 2010 11:17:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25502 Estate duty under the Estate Duty Act, 1953 was held not to arise where a supplemental family trust conferred vested beneficial interests on the beneficiaries from inception and the settlor's death merely removed a restriction on immediate enjoyment. The trustees had no power to revoke the trust or divert income, and the settlor had no power to destroy the beneficiaries' interests. Because death did not change beneficial ownership of the corpus, no property passed on death within section 5. Prior interpretation of the same trust deed and authorities on accumulation trusts supported the conclusion that the beneficiaries' rights were determinate and already vested. Case-Laws Income Tax Tue, 17 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25502