Law:

Section:

Section 10 of the Estate Duty Act, 1953 - Gifts whenever made where doner not entirely excluded - Deceased settled a property in trust - From trust deed it was found that deceased intended to convey properties which belonged to him to trustees i.e., himself being sole trustee and seven other relatives - However such conveyance was not done by deceased through registered documents - Whether in aforesaid circumstances it could be concluded that deceased had not diverted himself of property and he must be said to have died possessed of those properties - Held, yes - Whether therefore section 10 would apply and estate duty authorities had rightly included those properties in estate of deceased - Held, yes Section 10 of the Estate Duty Act, 1953 - Property deemed to pass - Gifts whenever made doner not entirely excluded - Deceased gifted property to his wife and relatives prior to commencement of Act - However properties were transferred after commencement of Act - Though properties were gifted, deceased had utilised rental income from those properties for his own business and other properties - No evidence was found of any exclusive possession and enjoyment by donee - Whether, on facts, value of gifted property was to be included in estate of deceased - Held, yes Section 46 of the Estate Duty Act 1953 - Deductions - Further limitations - Deceased gifted property to his wife and relatives - Accountable person claimed certain liabilities for deduction from value of estate of deceased - From books of deceased it was found that accumulated rents from gifted property were credited to personal accounts of donnees - Whether resources of properties in whose personal accounts accumulated rents had been credited included properties derived from deceased - Held, yes - Whether therefore board was justified in holding that liabilities were traceable to original gifts given by deceased and, therefore, stood excluded under section 46 - Held, yes FACTS The deceased died on 13-1-1957, leaving his widow, the accountable person. The deceased was the sole surviving coparcener of a joint Hindu family which carried on business as bankers and money-lenders. The Assistant Controller of…

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