https://www.taxtmi.com/caselaws?id=29181 Section 12 of the Estate Duty Act, 1953 applies only where the settlor has an effective reserved power to restore or reclaim the settled property. A trust deed is not governed by the rules applicable to gifts, and a revocation clause does not invalidate the trust or the three certainties; it remains dormant until exercised. On the facts, the charitable trusts were amalgamated into one arrangement, so the settlor could no longer revoke his own trusts without affecting interlinked trusts created by others. The later deeds, being contingent on revocation of the earlier trusts, also became inoperative. Section 12 was therefore not attracted to the trust properties. en-us Mon, 29 Sep 1980 00:00:00 +0530 Thu, 11 Mar 2010 12:50:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29181 Section 12 of the Estate Duty Act, 1953 applies only where the settlor has an effective reserved power to restore or reclaim the settled property. A trust deed is not governed by the rules applicable to gifts, and a revocation clause does not invalidate the trust or the three certainties; it remains dormant until exercised. On the facts, the charitable trusts were amalgamated into one arrangement, so the settlor could no longer revoke his own trusts without affecting interlinked trusts created by others. The later deeds, being contingent on revocation of the earlier trusts, also became inoperative. Section 12 was therefore not attracted to the trust properties. Case-Laws Income Tax Mon, 29 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29181