https://www.taxtmi.com/caselaws?id=39992 A transfer by book entries to the deceased's sons was treated as an integrated transaction converting the business into a partnership and assigning most of the deceased's interest to them. On the findings accepted, the transfer was of a share in the business, not cash, and the sons had to use the credited amounts as partnership capital. The deceased retained only his one-seventh share, and any benefit later enjoyed by him flowed from that retained interest, not from any benefit reserved under the gift. The statutory conditions for deeming the property to pass on death were therefore not met, and the amount was not includible in the estate under section 10 of the Estate Duty Act. en-us Tue, 21 Sep 1976 00:00:00 +0530 Tue, 05 Aug 2014 09:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39992 A transfer by book entries to the deceased's sons was treated as an integrated transaction converting the business into a partnership and assigning most of the deceased's interest to them. On the findings accepted, the transfer was of a share in the business, not cash, and the sons had to use the credited amounts as partnership capital. The deceased retained only his one-seventh share, and any benefit later enjoyed by him flowed from that retained interest, not from any benefit reserved under the gift. The statutory conditions for deeming the property to pass on death were therefore not met, and the amount was not includible in the estate under section 10 of the Estate Duty Act. Case-Laws Indian Laws Tue, 21 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39992