https://www.taxtmi.com/caselaws?id=56207 Insurance policy proceeds payable to the proposer on the death of a minor life assured were not chargeable to estate duty where the policy remained vested in the proposer until the assured attained majority. Because the deceased never reached the age for vesting, he had no beneficial interest capable of ceasing on death, so no property passed on death under sections 5, 6 or 7 of the Estate Duty Act, 1953. The amount also could not be assessed as the deceased's separate estate under section 34(3). The addition to estate duty was therefore unsustainable. en-us Fri, 13 Feb 1987 00:00:00 +0530 Thu, 02 Dec 2010 13:04:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56207 Insurance policy proceeds payable to the proposer on the death of a minor life assured were not chargeable to estate duty where the policy remained vested in the proposer until the assured attained majority. Because the deceased never reached the age for vesting, he had no beneficial interest capable of ceasing on death, so no property passed on death under sections 5, 6 or 7 of the Estate Duty Act, 1953. The amount also could not be assessed as the deceased's separate estate under section 34(3). The addition to estate duty was therefore unsustainable. Case-Laws Income Tax Fri, 13 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56207