https://www.taxtmi.com/caselaws?id=39474 Section 29 of the Estate Duty Act was construed purposively as an exemption meant to avoid double levy on settled property after duty had been paid since the settlement. A joint will, however, was read as conferring full ownership on the surviving spouse rather than a bare life interest, because the language showed an intention that the survivor become the owner and enjoy power of disposition. The grandsons' interests were postponed until the survivor's death, and no clear agreement not to revoke the will was proved. As the survivor was competent to dispose of the property, it was not settled property under section 2(19) and the estate duty exemption failed. en-us Thu, 20 Dec 1973 00:00:00 +0530 Fri, 16 Apr 2010 16:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39474 Section 29 of the Estate Duty Act was construed purposively as an exemption meant to avoid double levy on settled property after duty had been paid since the settlement. A joint will, however, was read as conferring full ownership on the surviving spouse rather than a bare life interest, because the language showed an intention that the survivor become the owner and enjoy power of disposition. The grandsons' interests were postponed until the survivor's death, and no clear agreement not to revoke the will was proved. As the survivor was competent to dispose of the property, it was not settled property under section 2(19) and the estate duty exemption failed. Case-Laws Income Tax Thu, 20 Dec 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39474