https://www.taxtmi.com/caselaws?id=29661 Section 10 of the Estate Duty Act, 1953 did not apply to a gift of money made absolutely to the deceased's sons, because the donor was wholly excluded from possession, enjoyment and control of the gifted property; the amount was therefore excluded from the principal value of the estate. In relation to goodwill, the sons had contributed their own capital from the gifted funds and entered the partnership in their own right, so only the deceased's one-fourth share in the goodwill was treated as passing on death, while the remaining three-fourths was not dutiable. Both referred questions were answered in favour of the accountable persons. en-us Wed, 01 Jul 1981 00:00:00 +0530 Mon, 15 Mar 2010 13:51:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29661 Section 10 of the Estate Duty Act, 1953 did not apply to a gift of money made absolutely to the deceased's sons, because the donor was wholly excluded from possession, enjoyment and control of the gifted property; the amount was therefore excluded from the principal value of the estate. In relation to goodwill, the sons had contributed their own capital from the gifted funds and entered the partnership in their own right, so only the deceased's one-fourth share in the goodwill was treated as passing on death, while the remaining three-fourths was not dutiable. Both referred questions were answered in favour of the accountable persons. Case-Laws Income Tax Wed, 01 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29661