https://www.taxtmi.com/caselaws?id=38766 Section 10 of the Estate Duty Act did not apply where Government securities were genuinely gifted to the deceased's wife and sons more than two years before death and were held in their names. The Tribunal found that the donees had bona fide possession and enjoyment of the corpus, and that the deceased retained no benefit: the interest, though initially routed through his bank account, was credited in the donees' books, left available to them, was not used for his own benefit, and was partly reinvested for them. The value of the securities was therefore not includible in the dutiable estate. en-us Wed, 23 Jul 1975 00:00:00 +0530 Thu, 08 Apr 2010 18:34:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38766 Section 10 of the Estate Duty Act did not apply where Government securities were genuinely gifted to the deceased's wife and sons more than two years before death and were held in their names. The Tribunal found that the donees had bona fide possession and enjoyment of the corpus, and that the deceased retained no benefit: the interest, though initially routed through his bank account, was credited in the donees' books, left available to them, was not used for his own benefit, and was partly reinvested for them. The value of the securities was therefore not includible in the dutiable estate. Case-Laws Income Tax Wed, 23 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38766