https://www.taxtmi.com/caselaws?id=26749 Mere book entries in the donor's own accounts do not by themselves complete a gift for estate duty purposes. Under section 10 of the Estate Duty Act, the gifted property is excluded from the estate only if the donee bona fide assumes possession and enjoyment and retains it to the donor's entire exclusion. Where the donor continues to retain benefit, including treatment of income in his own tax assessments, and there is no separate document or act showing transfer of dominion, the statutory exclusion is not satisfied. The property therefore remains includible in the estate. en-us Tue, 04 Dec 1984 00:00:00 +0530 Mon, 08 Feb 2010 12:39:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26749 Mere book entries in the donor's own accounts do not by themselves complete a gift for estate duty purposes. Under section 10 of the Estate Duty Act, the gifted property is excluded from the estate only if the donee bona fide assumes possession and enjoyment and retains it to the donor's entire exclusion. Where the donor continues to retain benefit, including treatment of income in his own tax assessments, and there is no separate document or act showing transfer of dominion, the statutory exclusion is not satisfied. The property therefore remains includible in the estate. Case-Laws Income Tax Tue, 04 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26749