1999 (9) TMI 49

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.... question referred to us is under the repealed Estate Duty Act, 1953. The question is regarding the applicability or otherwise of section 12 of the Act to the facts of this case. One Jalal Khalilur Rahman died on June 30, 1977, He had created a wakf in the year 1947 and the terms had been recorded in the deed executed in the year 1965. Under that deed by clause 10, he had clearly categorically ....

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....eserved to himself any interest in the property for life or any other period determinable with reference to his death. Counsel for the Revenue contended that his becoming a mutavalli itself amounted to reservation of the benefit of the wakf. The terms of the deed clearly show that he had not only divested himself of the title but also declared that he would not receive any income for himself. More....