Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (2007)106ITD541Indore
..... not apply to such administrator, pendente lite. the court observed (page 762) : "we have noted section 168 and sub sections (3) and (4) of the income-tax act, 1961. section 168, in our opinion contemplates the distribution of the assets in the case of the administration of an estate by the executor.if the executor or the administrator cannot ..... discussion various aspects of these provisions and different case law, hon'ble high court has opined as under: the assessable person under section 168 of the income tax act, 1961, is the executor. an administrator is also an executor for purposes of this section by virtue of the explanation. neither term has been defined in the ..... . james anderson 51 itr 345 (sc). to overcome this lacuna, certain sections in chapter xv were introduced in the income tax act 1961. particular reference in respect of taxation of the income of the deceased can be made to sections 159 to 168. in the present case, section 168 which is a complete code in itself will apply. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1996)56ITD232(Delhi)
..... new delhi, when assessee purchased the property at new friends colony jointly with her daughter. thus the assessee was not entitled to relief under section 54 of the income-tax act, 1961.34. before we wind up, we would like to point out that the decisions relied upon by the learned counsel for the assessee which have not been ..... the property was not distributed amongst the legatees, the assessment of the same was to be made in the hands of the executors under section 168 of the income-tax act, 1961. the learned counsel also pointed out that tenants of the premises, namely, m/s asea brown boveri ltd. were paying the rent by cheques in the ..... 93 and 1993-94, involving common issue, are disposed of by this consolidated order. the issue involved is relating to exemption claimed under section 54f of the income-tax act, 1961 out of the capital gains derived by the assessee in the aforementioned assessment years.relevant facts are that assessee had sold certain shares in march 1992 in consideration .....
Tag this Judgment!Court : Karnataka
Reported in : [1991]189ITR99(KAR); [1991]189ITR99(Karn)
..... principal amount and interest on annuity deposit are taxable under the provisions of the income-tax act, 1961 (3) if the answer to the above second question is in the affirmative, whether, on the facts and in the circumstances of the case, the ..... of the case, the tribunal is justified in holding that both the instalments of principal amount and interest on annuity deposit are taxable under the provisions of the income-tax act, 1961 (4) if the answer to the above third question is in the affirmative, whether, on the facts and in the circumstances of the case, the tribunal ..... '(1) whether, on the facts and in the circumstances of the case, the tribunal is justified in upholding the assessment made by the income-tax officer on the assessees under section 168 of the income-tax act, 1961 (2) whether, on the facts and in the circumstances of the case, the tribunal is justified in holding that both the instalment of .....
Tag this Judgment!Court : Karnataka
Reported in : (1982)29CTR(Kar)346; [1982]135ITR393(KAR); [1982]135ITR393(Karn)
..... the first question, which reads : 'whether, on the facts and in the circumstances of the case, the executors have been rightly assessed under section 168 of the income-tax act 1961 ?' 44. there is a difference of opinion between us, both on the question as to whether the assessee should be permitted to raise the contention as also on ..... the circumstances of the case, the instalments of refund of the principal amount of annuity deposit are taxable in the hands of the executors under the provisions of the income-tax act, 1961 (c) if the answered to question no. 2(b) is in the affirmative, whether, on the facts and in the circumstances of the case, the proportionate ..... , 75 and 76 of 1976 : '(1) whether, on the facts and in the circumstances of the case, the executors have been rightly assessed under section 168 of the income-tax act, 1961 (2) if the answer to the first question is in the affirmative : (a) whether, on the facts and in the circumstances of the case, the interest amount credited .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1982)2ITD225(Ahd.)
..... legatee's share as the estate is still managed by the executor. it was also contended that the income of the estate of the deceased shall be assessed separately, as per the provisions of section 168 of the income-tax act, 1961 ('the act') till the income and wealth of the estates are distributed to, or applied to, the benefit of any specific legatee. ..... sakarlal (supra) is not relevant because that decision did not consider the scope of section 19a of the wealth-tax act. in the income-tax matters, the hon'ble high court on the basis of the facts found by the tribunal, that the estate was completely administered, came to the conclusion that ..... in the years of account and as such the hon'ble high court was not called upon to decide the scope of section 19a of the wealth-tax act, 1957. in the income-tax matter in the case of navnitlal sakarlal (supra), the hon'ble high court also made it clear that the decision given in the case of navnitlal .....
Tag this Judgment!Court : Gujarat
Reported in : [2008]305ITR263(Guj)
..... d.a. mehta, j.1. the tribunal, ahmedabad bench 'b' has referred the following three questions under section 256(1) of the income tax act, 1961 (the act) at the instance of the commissioner of income tax (cit), bhopal (mp).(1) whether, on the facts and in the circumstances of the case, the assessee being the wife and sole surviving successor and legal heir has ..... , indore on the assessee as an executor of the estate of the deceased person in accordance with the provisions of section 168 of the income tax act, 1961 ?2. the assessment years involved are 1982-83 and 1981-82. the relevant accounting period being years ended on 31-3-1982 and 31-2-1981 respectively. ..... to be assessed in respect of the income arising to her from the properties of her late husband shri anandrao puar as per .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1988)26ITD250(Mad.)
..... the capacity of an executor or administrator having regard also to the provisions of section 168 of the income-tax act, 1961. in coming to this conclusion, the tribunal had referred also to the relevant provisions of the insurance act, the indian succession act, etc.3. before us, the submission of the learned departmental representative was that under general law, ..... ac and. with which we agree.9. for the sake of completeness, we may state that while under the income-tax act a mere right to receive an amount may not result in income accruing, under the wealth-tax act, property of every nature is an asset and is a concept of the widest term. had not the provisions of ..... will of the deceased. this was the view taken by the bench, of this tribunal in the income-tax proceedings when they referred to the analogous provisions of section 168 of the income-tax act and came to the conclusion that the income could not be assessed in the hands of the assessee as specific legatee. 19a. (1) subject as .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1986)16ITD493(Mum.)
..... tax act, in the wealth-tax assessments and under section 168 of the income-tax act, 1961, in the income-tax assessments and not as a trustee for any beneficiary under section 21a of the wealth-tax act and section 160(1)(iv) of the income-tax act, respectively.5. in the present case, the executors of the estate filed income-tax returns as executors. the income-tax ..... of the estate was assessed in their hands for the relevant years with their consent. for the wealth-tax ..... of the estate that the executors have been assessed as executors in the income-tax assessments for all these three years. it was submitted that the income-tax assessments were completed in the year 1976 and at that time it did not .....
Tag this Judgment!Court : Chennai
Reported in : [1980]121ITR270(Mad)
..... assessments on executors, a separate provision under section 168 has been made.13. section 168(1) of the i.t. act, 1961, is in the following terms:'subject as hereinafter provided, the income of the estate of adeceased person shall be chargeable to tax in the hands of the executor,-- (a) if there is only one executor, then, as if the executor were anindividual ..... the estate of the deceased in the hands of the executor could be taxed.5. on behalf of the revenue, it was contended that arrears of professional income due to the deceased constitute the income of the estate within the meaning of section 168 of the i.t. act, 1961, and, therefore, the ito was justified in including the arrears of professional fees received by .....
Tag this Judgment!Court : Chennai
Reported in : (1980)16CTR(Mad)238; [1979]120ITR271(Mad)
..... that assessments will have to be made distributively under section 161(1) of the income-tax act, 1961, as respects the income from the estate without aggregation ' 2. one, shri v. l. ethiraj, hereinafter referred to as the deceased, who was a leading criminal lawyer in ..... became vested in the official trustee of madras as a ' trustee ' from the very inception and, therefore, the income of the estate is not assessable in his hands under the provisions of section 168 of the income-tax act, 1961 ? 2. whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding ..... have discharged the executorial functions, and that, therefore, the assessee having acted only as an executor under the will of the deceased during the years in question the income was liable to be taxed in his hands only, under section 168 of the i.t. act, 1961, and not as a trustee. in support of his view the ito .....
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