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1973 (5) TMI 24 - HC - Income TaxEstate Duty Act, 1953 - father gifts money to sons, they invest the money and enter into partnership with the father - " Whether, on the facts and in the circumstances of the case, the provisions of section 10 of the Estate Duty Act, 1953, were applicable to this case ? " - we are of the opinion that the donees in the present case did not enjoy the possession of the donated amount of Rs. 1 lakh to the entire exclusion of the donor as long as it formed the part of the capital of the firm of which the donor was a partner. - Question answered in the affirmative
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