Estate Duty Commissioners v Merali and Another
Estate Duty Commissioners v Merali and Another (Civil Case No. 37 of 1939) [1940] EACA 28 (1 January 1940)
The court held that the sums credited to the sons in the business books did not constitute perfected gifts exempt from estate duty under section 12(1)(b) of the Estate Duty (Consolidation) Ordinance, 1926. The entries were made at the direction of Merali Devji, who retained control over the property throughout, and there was no evidence of a transfer of property or declaration of trust. The sons, being minors at the time, did not assume bona fide possession and enjoyment of the property to the exclusion of the donor. The will further demonstrated that Merali Devji maintained control over the…
Source excerpt
- Estate Duty
- Gifts In Estate
- Transfer Of Property
- Declaration Of Trust