https://www.taxtmi.com/caselaws?id=36068 Under the Estate Duty Act, a deceased partner's share in a firm is chargeable under section 9 read with section 27 only if there is a disposition by the deceased of a subsisting interest; a later reconstitution deed and recitals alone do not establish such a transfer where the deceased had already retired and was not a party to the deed. Contributions to chit funds in relatives' names were treated differently: section 10 applies where the gifted property is not immediately and wholly excluded from the donor's benefit, and the amounts remained taxable because they were contributed from the deceased's resources, credited to relatives, and effectively cycled back into the firm in which he retained an interest. en-us Tue, 06 Feb 1979 00:00:00 +0530 Fri, 19 Mar 2010 11:44:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36068 Under the Estate Duty Act, a deceased partner's share in a firm is chargeable under section 9 read with section 27 only if there is a disposition by the deceased of a subsisting interest; a later reconstitution deed and recitals alone do not establish such a transfer where the deceased had already retired and was not a party to the deed. Contributions to chit funds in relatives' names were treated differently: section 10 applies where the gifted property is not immediately and wholly excluded from the donor's benefit, and the amounts remained taxable because they were contributed from the deceased's resources, credited to relatives, and effectively cycled back into the firm in which he retained an interest. Case-Laws Income Tax Tue, 06 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36068