https://www.taxtmi.com/caselaws?id=40222 Section 10 of the Estate Duty Act, 1953 applies only where the donor retains possession, enjoyment or benefit in the gifted property. A trust deed that unconditionally transferred shares for the benefit of the donor's grandson, without any reserved right or interest for the donor, did not satisfy that test. A clause allowing trustees to fix their own remuneration by unanimous resolution was merely contingent on a future act and, in any event, no resolution was passed and no remuneration was received. The corpus of the trust fund was therefore not includible in the deceased's estate. en-us Thu, 23 Apr 1998 00:00:00 +0530 Thu, 03 Jul 2014 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40222 Section 10 of the Estate Duty Act, 1953 applies only where the donor retains possession, enjoyment or benefit in the gifted property. A trust deed that unconditionally transferred shares for the benefit of the donor's grandson, without any reserved right or interest for the donor, did not satisfy that test. A clause allowing trustees to fix their own remuneration by unanimous resolution was merely contingent on a future act and, in any event, no resolution was passed and no remuneration was received. The corpus of the trust fund was therefore not includible in the deceased's estate. Case-Laws Income Tax Thu, 23 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40222