Supreme Court of India
Mahendra Rambhai Patel v. Controller of Estate Duty, Gujarat
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the opinion that under the deed of trust the right to 80 shares and to the income thereof arose from the date on which the -Oeed of trust became operative and it was not deferred till the beneficiary attained the age of twenty-five years.
Judgment, page 4
From the headnote
Estate Duty Act, 1953 (34. of 1953), ss. 2(15), S and 23-Property settled by deed of trust-Beneficiaries entitled lo maintenance but not to hold the property before attaining age of 25 years-One of the benefi ciaries dying before that age-His interest whether 'property' untfer s. 2(15)-Whetlwr passes under s 5.-App/icabi/ity of s. 23 . Under a deed of trust 160 shares of a company were settled equally upon the appellant and his younger brother. According to the deed the trustees were to bold th~ shares of each ooneficiary till he attained the age of twenty-five years. Before that the income
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