https://www.taxtmi.com/caselaws?id=36753 Section 10 of the Estate Duty Act, 1953 was held inapplicable where a donor gifted a 6% share in the goodwill of a partnership firm to a grandson but retained his own separate 6% partnership share and the rights attached to that retained interest. The retained benefit was traceable only to property not gifted, not to the subject-matter of the gift, so the statutory requirement that the gifted property be enjoyed by the donee to the entire exclusion of the donor was not breached. The value of the gifted share in goodwill was therefore not includible in the donor's estate, and the issue was answered in favour of the accountable person. en-us Fri, 14 Sep 1979 00:00:00 +0530 Wed, 24 Mar 2010 12:45:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36753 Section 10 of the Estate Duty Act, 1953 was held inapplicable where a donor gifted a 6% share in the goodwill of a partnership firm to a grandson but retained his own separate 6% partnership share and the rights attached to that retained interest. The retained benefit was traceable only to property not gifted, not to the subject-matter of the gift, so the statutory requirement that the gifted property be enjoyed by the donee to the entire exclusion of the donor was not breached. The value of the gifted share in goodwill was therefore not includible in the donor's estate, and the issue was answered in favour of the accountable person. Case-Laws Income Tax Fri, 14 Sep 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36753