https://www.taxtmi.com/caselaws?id=37677 Property settled on trust is outside the estate duty exclusion only if the beneficiary has bona fide assumed possession and enjoyment at least two years before death and retained it to the entire exclusion of the deceased. Where the settlor reserves a life right of residence in trust property and a maintenance payment charged on the settled fund, the beneficiary is not in such exclusive possession and enjoyment. The reserved residence and enforceable payment remain referable to the settlement, so the trust property is treated as passing on death and falls within estate duty charge. en-us Fri, 03 Jan 1975 00:00:00 +0530 Wed, 31 Mar 2010 13:06:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37677 Property settled on trust is outside the estate duty exclusion only if the beneficiary has bona fide assumed possession and enjoyment at least two years before death and retained it to the entire exclusion of the deceased. Where the settlor reserves a life right of residence in trust property and a maintenance payment charged on the settled fund, the beneficiary is not in such exclusive possession and enjoyment. The reserved residence and enforceable payment remain referable to the settlement, so the trust property is treated as passing on death and falls within estate duty charge. Case-Laws Income Tax Fri, 03 Jan 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37677