https://www.taxtmi.com/caselaws?id=37752 A reservation of a defined monthly share in the surplus income of settled properties under a wakf deed was treated as a reservation of interest in the property, not a mere independent charge. Section 12(1) of the Estate Duty Act applies where a settlement reserves an interest expressly or by implication for life or for a period linked to death, and the Explanation extends this to maintenance reservations for the settlor and relatives. On that construction, clause 13 secured the settlor a share in the income of the settled properties, so the properties were deemed to pass on his death and were liable to estate duty. en-us Tue, 04 Apr 1978 00:00:00 +0530 Wed, 31 Mar 2010 17:43:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37752 A reservation of a defined monthly share in the surplus income of settled properties under a wakf deed was treated as a reservation of interest in the property, not a mere independent charge. Section 12(1) of the Estate Duty Act applies where a settlement reserves an interest expressly or by implication for life or for a period linked to death, and the Explanation extends this to maintenance reservations for the settlor and relatives. On that construction, clause 13 secured the settlor a share in the income of the settled properties, so the properties were deemed to pass on his death and were liable to estate duty. Case-Laws Income Tax Tue, 04 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37752