https://www.taxtmi.com/caselaws?id=39174 Section 10 of the Estate Duty Act, 1953 applies only where the donee does not bona fide assume and retain possession and enjoyment of the gifted property to the entire exclusion of the donor or any benefit to him. On the facts, the gifts to the sons were absolute, the sons invested the amounts for their own benefit, and the donor derived no benefit merely because the money was used in the business. The gifted sum was therefore not treated as property deemed to pass on death and was excluded from the deceased's estate. en-us Wed, 19 May 1976 00:00:00 +0530 Tue, 13 Apr 2010 13:58:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39174 Section 10 of the Estate Duty Act, 1953 applies only where the donee does not bona fide assume and retain possession and enjoyment of the gifted property to the entire exclusion of the donor or any benefit to him. On the facts, the gifts to the sons were absolute, the sons invested the amounts for their own benefit, and the donor derived no benefit merely because the money was used in the business. The gifted sum was therefore not treated as property deemed to pass on death and was excluded from the deceased's estate. Case-Laws Income Tax Wed, 19 May 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39174