https://www.taxtmi.com/caselaws?id=36274 Section 10 of the Estate Duty Act applied because the gifted trust properties were not taken in bona fide possession and enjoyment to the entire exclusion of the donor. Continuance as trustee, by itself, did not defeat exclusion, but the decisive facts were that the donor retained a right to annual sums and had in fact drawn substantial amounts from trust funds for his own purposes over time. Those drawings were treated as enjoyment of the trust income, even if described as loans or as transactions in breach of trust. A reserved right to remuneration also showed that benefit remained available under the trust deed. The trust properties were therefore includible in the estate duty assessment. en-us Fri, 10 Aug 1979 00:00:00 +0530 Sat, 20 Mar 2010 13:35:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36274 Section 10 of the Estate Duty Act applied because the gifted trust properties were not taken in bona fide possession and enjoyment to the entire exclusion of the donor. Continuance as trustee, by itself, did not defeat exclusion, but the decisive facts were that the donor retained a right to annual sums and had in fact drawn substantial amounts from trust funds for his own purposes over time. Those drawings were treated as enjoyment of the trust income, even if described as loans or as transactions in breach of trust. A reserved right to remuneration also showed that benefit remained available under the trust deed. The trust properties were therefore includible in the estate duty assessment. Case-Laws Income Tax Fri, 10 Aug 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36274