https://www.taxtmi.com/caselaws?id=59272 A valid trust loan was considered outside section 46(2) of the Estate Duty Act where the trust had been created years earlier, its genuineness was undisputed, and the deceased derived no direct or indirect benefit from the trust corpus. The amount advanced came from accumulated income or deposits generated by the trust property, not from the corpus transferred into trust, and there was no sufficient nexus between the earlier gift and the later temporary borrowing. On that reasoning, the loan amount was not includible in the estate and the departmental challenge failed. en-us Mon, 17 Oct 1983 00:00:00 +0530 Mon, 27 Dec 2010 15:44:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59272 A valid trust loan was considered outside section 46(2) of the Estate Duty Act where the trust had been created years earlier, its genuineness was undisputed, and the deceased derived no direct or indirect benefit from the trust corpus. The amount advanced came from accumulated income or deposits generated by the trust property, not from the corpus transferred into trust, and there was no sufficient nexus between the earlier gift and the later temporary borrowing. On that reasoning, the loan amount was not includible in the estate and the departmental challenge failed. Case-Laws Income Tax Mon, 17 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59272