https://www.taxtmi.com/caselaws?id=39591 A Muslim settlement deed was construed as an absolute gift of the corpus with a valid reservation of usufruct first for the settlor and then for his wife. The reservation of income was held not to offend Muslim law or Section 11 of the Transfer of Property Act, 1882, because the absolute transfer related only to the corpus and the reserved right to future income was a permissible beneficial arrangement. The wife's right to receive income was also treated as an enforceable interest in the property. On her death, that interest ceased and the value of the property was includible in her estate under the Estate Duty Act, 1953. en-us Thu, 27 Sep 1973 00:00:00 +0530 Mon, 19 Apr 2010 10:30:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39591 A Muslim settlement deed was construed as an absolute gift of the corpus with a valid reservation of usufruct first for the settlor and then for his wife. The reservation of income was held not to offend Muslim law or Section 11 of the Transfer of Property Act, 1882, because the absolute transfer related only to the corpus and the reserved right to future income was a permissible beneficial arrangement. The wife's right to receive income was also treated as an enforceable interest in the property. On her death, that interest ceased and the value of the property was includible in her estate under the Estate Duty Act, 1953. Case-Laws Income Tax Thu, 27 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39591