https://www.taxtmi.com/caselaws?id=25666 A 1/8th share under the trust deed was held not to be an interest in possession because the settlement postponed devolution of the beneficial share until the trust ended by efflux of time. The deceased therefore had only a contingent or expectant right during his lifetime, and section 23 of the Estate Duty Act, 1953, did not apply because it operates only where an existing interest under a settlement fails or determines by death before becoming an interest in possession, with subsequent limitations continuing to subsist. The facts were distinguished from the cited Supreme Court decision, where the beneficiary already had an existing beneficial entitlement and only enjoyment was postponed. en-us Mon, 10 Feb 1986 00:00:00 +0530 Sat, 30 Jan 2010 10:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25666 A 1/8th share under the trust deed was held not to be an interest in possession because the settlement postponed devolution of the beneficial share until the trust ended by efflux of time. The deceased therefore had only a contingent or expectant right during his lifetime, and section 23 of the Estate Duty Act, 1953, did not apply because it operates only where an existing interest under a settlement fails or determines by death before becoming an interest in possession, with subsequent limitations continuing to subsist. The facts were distinguished from the cited Supreme Court decision, where the beneficiary already had an existing beneficial entitlement and only enjoyment was postponed. Case-Laws Income Tax Mon, 10 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25666