https://www.taxtmi.com/caselaws?id=40010 Section 10 of the Estate Duty Act, 1953 applies only where the donee bona fide assumes possession and enjoyment of the gifted property to the exclusion of the donor, including exclusion from any benefit referable to the gift. A donor's later sharing in the use or benefit of the property through a partnership is insufficient if that benefit arises from an independent partnership relationship rather than from the gift itself. On the facts, the gifted sums formed part of the donees' investment or credit in the firm, and the donor's continuing benefit was not shown to be traceable to the gifts. The gifts were therefore not includible in the principal value of the estate. en-us Wed, 05 Sep 1979 00:00:00 +0530 Mon, 04 Aug 2014 08:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40010 Section 10 of the Estate Duty Act, 1953 applies only where the donee bona fide assumes possession and enjoyment of the gifted property to the exclusion of the donor, including exclusion from any benefit referable to the gift. A donor's later sharing in the use or benefit of the property through a partnership is insufficient if that benefit arises from an independent partnership relationship rather than from the gift itself. On the facts, the gifted sums formed part of the donees' investment or credit in the firm, and the donor's continuing benefit was not shown to be traceable to the gifts. The gifts were therefore not includible in the principal value of the estate. Case-Laws Indian Laws Wed, 05 Sep 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40010