https://www.taxtmi.com/caselaws?id=40195 Gifts made by a deceased to his daughters were complete and unconditional when accepted, and the later use of the gifted amounts as business capital under a subsequent partnership arrangement did not make the donor's continued benefit referable to the gift itself. Section 10 of the Estate Duty Act, 1953 applies only where the donee does not retain possession and enjoyment to the donor's entire exclusion, or where any benefit to the donor is traceable to a reservation attached to the gift. On the facts, the section was not attracted, so the gifted amounts were excluded from the principal value of the estate. en-us Wed, 18 Sep 1996 00:00:00 +0530 Tue, 08 Jul 2014 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40195 Gifts made by a deceased to his daughters were complete and unconditional when accepted, and the later use of the gifted amounts as business capital under a subsequent partnership arrangement did not make the donor's continued benefit referable to the gift itself. Section 10 of the Estate Duty Act, 1953 applies only where the donee does not retain possession and enjoyment to the donor's entire exclusion, or where any benefit to the donor is traceable to a reservation attached to the gift. On the facts, the section was not attracted, so the gifted amounts were excluded from the principal value of the estate. Case-Laws Income Tax Wed, 18 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40195