https://www.taxtmi.com/caselaws?id=36754 Gifted sums paid through a partner's account in a firm and through a coparcener's account in Hindu undivided family books were held not to be includible in the principal value of the deceased's estate under section 10 because the deceased had not retained possession or enjoyment of the gifted property. The court treated a coparcener's rights in joint family property as analogous to a partner's rights in partnership assets. A sum lying with the firm as trust money was also excluded under section 22 because the statutory conditions for inclusion were not met and the property did not pass on death. The reference was answered against the revenue. en-us Thu, 20 Sep 1979 00:00:00 +0530 Wed, 24 Mar 2010 12:46:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36754 Gifted sums paid through a partner's account in a firm and through a coparcener's account in Hindu undivided family books were held not to be includible in the principal value of the deceased's estate under section 10 because the deceased had not retained possession or enjoyment of the gifted property. The court treated a coparcener's rights in joint family property as analogous to a partner's rights in partnership assets. A sum lying with the firm as trust money was also excluded under section 22 because the statutory conditions for inclusion were not met and the property did not pass on death. The reference was answered against the revenue. Case-Laws Income Tax Thu, 20 Sep 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36754