https://www.taxtmi.com/caselaws?id=27511 Section 12 of the Estate Duty Act treats "any settlement" as broad enough to include a trust, based on the Act's definition and statutory scheme. A settlor's enforceable lifetime right to require trustees to meet pilgrimage-related expenses from both trust income and corpus constitutes a reserved interest in the property for life; the trust property is therefore deemed to pass on death and is included in the estate duty assessment. The first proviso does not apply unless the settlor positively surrenders that right and is excluded from enjoyment for at least two years before death. Mere non-exercise of the right is not an implied surrender. en-us Fri, 02 Dec 1983 00:00:00 +0530 Sat, 13 Feb 2010 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27511 Section 12 of the Estate Duty Act treats "any settlement" as broad enough to include a trust, based on the Act's definition and statutory scheme. A settlor's enforceable lifetime right to require trustees to meet pilgrimage-related expenses from both trust income and corpus constitutes a reserved interest in the property for life; the trust property is therefore deemed to pass on death and is included in the estate duty assessment. The first proviso does not apply unless the settlor positively surrenders that right and is excluded from enjoyment for at least two years before death. Mere non-exercise of the right is not an implied surrender. Case-Laws Income Tax Fri, 02 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27511