https://www.taxtmi.com/caselaws?id=28680 Section 46(1)(b) of the Estate Duty Act applies only where the creditor's resources derived from the deceased have a real and legally relevant nexus with the loan transaction; a remote prior gift is not enough. On the facts, the vacant site gifted by the deceased was later developed and sold at market value before the son advanced loans, so the gift did not enable or facilitate the borrowings. The debt was therefore not abated under section 46(1)(b), and the consequential charge under section 46(2) also failed, with the questions answered in favour of the assessee and against the Revenue. en-us Thu, 12 Mar 1981 00:00:00 +0530 Wed, 24 Feb 2010 17:21:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28680 Section 46(1)(b) of the Estate Duty Act applies only where the creditor's resources derived from the deceased have a real and legally relevant nexus with the loan transaction; a remote prior gift is not enough. On the facts, the vacant site gifted by the deceased was later developed and sold at market value before the son advanced loans, so the gift did not enable or facilitate the borrowings. The debt was therefore not abated under section 46(1)(b), and the consequential charge under section 46(2) also failed, with the questions answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Thu, 12 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28680