https://www.taxtmi.com/caselaws?id=38813 Section 12 of the Estate Duty Act deems settled property with a reserved interest to pass on death for assessment purposes, but it does not change the fact that title had already passed to the settlee. Section 60(1)(c), being a penal provision, is confined to concealment or inaccurate particulars of the deceased's own property and cannot be enlarged by the wording of the return form. Property merely deemed to pass on death under section 12 therefore could not be treated as the deceased's property for penalty purposes, and penalty was held not to be attracted. en-us Tue, 14 Sep 1976 00:00:00 +0530 Fri, 09 Apr 2010 11:51:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38813 Section 12 of the Estate Duty Act deems settled property with a reserved interest to pass on death for assessment purposes, but it does not change the fact that title had already passed to the settlee. Section 60(1)(c), being a penal provision, is confined to concealment or inaccurate particulars of the deceased's own property and cannot be enlarged by the wording of the return form. Property merely deemed to pass on death under section 12 therefore could not be treated as the deceased's property for penalty purposes, and penalty was held not to be attracted. Case-Laws Income Tax Tue, 14 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38813