https://www.taxtmi.com/caselaws?id=25893 A gift deed transferring immovable properties subject to a reserved monthly charge in favour of the donor was construed as a transfer of only the interest actually parted with, not an absolute gift of the whole property. Applying section 10 of the Estate Duty Act, 1953, the retained benefit was treated as a qualification attached to the gift itself, rather than a later-arranged benefit. Accordingly, only the value of the gifted properties as diminished by the reserved charge was includible in the estate on the donor's death, and the capitalised value of the charge, not the full market value of the properties, was assessable. en-us Mon, 02 Mar 1987 00:00:00 +0530 Mon, 01 Feb 2010 14:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25893 A gift deed transferring immovable properties subject to a reserved monthly charge in favour of the donor was construed as a transfer of only the interest actually parted with, not an absolute gift of the whole property. Applying section 10 of the Estate Duty Act, 1953, the retained benefit was treated as a qualification attached to the gift itself, rather than a later-arranged benefit. Accordingly, only the value of the gifted properties as diminished by the reserved charge was includible in the estate on the donor's death, and the capitalised value of the charge, not the full market value of the properties, was assessable. Case-Laws Income Tax Mon, 02 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25893