https://www.taxtmi.com/caselaws?id=38546 Where a settlor executes a settlement and reserves a life interest in the whole property, section 12(1) of the Estate Duty Act, 1953 deems the property to pass on the settlor's death and makes it liable to estate duty. The court rejected the argument that no passing occurred because one interest ended and another began, holding that any later interest arose only under the settlement itself. A separate point on section 7 and valuation was not entertained because it had not been shown to arise from the Tribunal's order. The reference was answered against the assessee. en-us Wed, 25 Aug 1976 00:00:00 +0530 Wed, 07 Apr 2010 11:42:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38546 Where a settlor executes a settlement and reserves a life interest in the whole property, section 12(1) of the Estate Duty Act, 1953 deems the property to pass on the settlor's death and makes it liable to estate duty. The court rejected the argument that no passing occurred because one interest ended and another began, holding that any later interest arose only under the settlement itself. A separate point on section 7 and valuation was not entertained because it had not been shown to arise from the Tribunal's order. The reference was answered against the assessee. Case-Laws Income Tax Wed, 25 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38546