TaxTMI 
TaxTMI 
1969 (4) TMI 3
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....e attracted section 12 or in the alternative section 10. The question to consider is : " Whether, on the facts and in the circumstances of the case, the properties settled by the deceased by the six deeds of settlement valued at Rs. 7,38,656 or any part thereof was not liable for inclusion in the estate of the deceased as property deemed to pass on his death ? " We are of the view that there is no room whatever for the application of section 12. The gift deeds were all executed more than two years prior to the death of the deceased. The first four deeds are in favour of his sons and grandsons and are in stereotyped form. The disposition in these documents of the immovable property is of absolute ownership. On that matter there can be litt....
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....cted. In our opinion, the non-exclusion clause as to possession and enjoyment does not apply. The deeds are clear on that, for, they say that possession has been delivered. It has to be assumed, therefore, that the donee in each case assumed possession and enjoyment and to the entire exclusion of the donor. The question then is whether there was an exclusion of the donor from any benefit to him by contract or otherwise. That the provision for payment of maintenance in the deeds in favour of the sons, grandsons and daughter amounted to a contract can admit of no doubt. The obligation to pay maintenance is supported by the consideration of making a gift in each of these cases. The only other question, therefore, is, is it a benefit reserved t....