https://www.taxtmi.com/caselaws?id=27528 Section 10 of the Estate Duty Act, 1953 is not attracted where a gifted amount invested in a partnership firm does not leave the donor with a benefit referable to the gift itself. The governing principle is that mere enjoyment arising from the donor's separate status as a partner is insufficient; the donor's benefit must flow from a retention or reservation attached to the gift. On that footing, the gifted sum was held not includible in the principal value of the estate, and the reference was answered against the Revenue. en-us Fri, 13 Jan 1984 00:00:00 +0530 Sat, 13 Feb 2010 13:38:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27528 Section 10 of the Estate Duty Act, 1953 is not attracted where a gifted amount invested in a partnership firm does not leave the donor with a benefit referable to the gift itself. The governing principle is that mere enjoyment arising from the donor's separate status as a partner is insufficient; the donor's benefit must flow from a retention or reservation attached to the gift. On that footing, the gifted sum was held not includible in the principal value of the estate, and the reference was answered against the Revenue. Case-Laws Income Tax Fri, 13 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27528