https://www.taxtmi.com/caselaws?id=27544 A family trust that postponed the ultimate charitable gift until the extinction of the family line was treated as void ab initio for offending restrictions on remote and perpetual transfers; the Mohammedan wakf exception, the Mussalman Wakf Validating Act, 1913, and the Nizam Trust Deeds (Validating) Act, 1950 were held inapplicable on the facts. Adverse possession and limitation also failed because, for movable property, time does not run without accrual of the right to sue, which requires a clear assertion and denial of title; mere long possession was insufficient. The trust corpus therefore remained liable to revert and was includible in the principal value of the estate. en-us Fri, 09 Dec 1983 00:00:00 +0530 Sat, 13 Feb 2010 14:28:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27544 A family trust that postponed the ultimate charitable gift until the extinction of the family line was treated as void ab initio for offending restrictions on remote and perpetual transfers; the Mohammedan wakf exception, the Mussalman Wakf Validating Act, 1913, and the Nizam Trust Deeds (Validating) Act, 1950 were held inapplicable on the facts. Adverse possession and limitation also failed because, for movable property, time does not run without accrual of the right to sue, which requires a clear assertion and denial of title; mere long possession was insufficient. The trust corpus therefore remained liable to revert and was includible in the principal value of the estate. Case-Laws Income Tax Fri, 09 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27544