COLLECTOR OF ESTATE DUTY vs M/S R. KANAKASABAI AND ORS.

The Supreme Court held that under the Estate Duty Act, 1953, specifically Sections 10 and 12, the stipulations in the deeds of settlement did not create enforceable liabilities or reserved interests for the deceased. The Court affirmed the High Court's ruling that the properties settled on the wife did not contribute to the estate's value upon death, as they were merely hopes and expectations. Furthermore, the Court found that the conditions of Section 12 were not met, and the deceased did not retain any interest in the properties settled, thus allowing the appeal of the assessees.