The only question is whether Ex. B3 is a settlement deed or a Will, Learned counsel for the appellants contends that it is only a Will and not a settlement deed as it does not convey any interest in the property in praesenti . Learned counsel places reliance on judgments in Commissioner of Gift Tax, Madras II Madras v. G. Thiruvenkata Mudaliar Madras 1976 T.L.N.J. 325 and in Sadasivam v. Subramania Pillai 1986 T.L.N.J. 270. In the former case, a Division Bench of this Court had to consider a document, the provisions of which were as follows:

“(1) The settlors are to continue to enjoy both the items of properties during their life time. (2) The settlors will have no power to alienate or otherwise dispose of the property in any manner such as by way of gift, exchange, mortgage, etc. (3) After the death of both the settlors, one of the sons should enjoy the property during his lifetime without any power of alienation by way of gift, etc., and after his life time, his heirs should take and enjoy the said properties as full owners absolutely. (4 ) Similarly, another son is to take and enjoy another property during his lifetime without power of alienation and after his death, h