https://www.taxtmi.com/caselaws?id=40095 Section 12(1) of the Estate Duty Act, 1953 applies where property is settled by deed and the settlor reserves an interest for life or for a period ending on death, whether expressly or by implication. The provision is not confined by the narrower concept of "settled property" in section 2(19); a settlement, including a dedication or endowment, with reserved beneficial enjoyment is sufficient. Where section 12(1) is attracted, the entire property comprised in the settlement is deemed to pass on the settlor's death, and the extent of the reserved benefit does not limit the charge. Reservation of shebaitship may also support the existence of a beneficial interest. en-us Mon, 09 May 1988 00:00:00 +0530 Fri, 25 Jul 2014 09:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40095 Section 12(1) of the Estate Duty Act, 1953 applies where property is settled by deed and the settlor reserves an interest for life or for a period ending on death, whether expressly or by implication. The provision is not confined by the narrower concept of "settled property" in section 2(19); a settlement, including a dedication or endowment, with reserved beneficial enjoyment is sufficient. Where section 12(1) is attracted, the entire property comprised in the settlement is deemed to pass on the settlor's death, and the extent of the reserved benefit does not limit the charge. Reservation of shebaitship may also support the existence of a beneficial interest. Case-Laws Indian Laws Mon, 09 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40095