https://www.taxtmi.com/caselaws?id=57950 A beneficial interest already vested in possession, even where enjoyment of the corpus and accumulated income is deferred, is treated as part of the estate for estate duty purposes. The trust terms indicated that the deceased had a vested beneficial interest with intermediate income applied for his benefit and a power of appointment, so the interest was not a mere expectancy and did not qualify for exemption under section 23 of the Estate Duty Act, 1953. A claim for deduction from the principal value of the estate on account of estate duty payable was also rejected. en-us Mon, 12 Mar 1984 00:00:00 +0530 Wed, 15 Dec 2010 15:49:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57950 A beneficial interest already vested in possession, even where enjoyment of the corpus and accumulated income is deferred, is treated as part of the estate for estate duty purposes. The trust terms indicated that the deceased had a vested beneficial interest with intermediate income applied for his benefit and a power of appointment, so the interest was not a mere expectancy and did not qualify for exemption under section 23 of the Estate Duty Act, 1953. A claim for deduction from the principal value of the estate on account of estate duty payable was also rejected. Case-Laws Income Tax Mon, 12 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57950