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 : 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 : 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 : Kolkata
Reported in : [1980]126ITR748(Cal)
..... definite and ascertainable and as such the assessments should be made as 'association of persons' under sections 164 and 26 of the income-tax act, 1961?'8. in order to determine whether section 164 of the i.t. act, 1961, would be applicable in the instant case, it is, in our opinion, necessary first to decide whether section 168 had any ..... result in a benefit to the revenue.' 12. section 168 of the i.t. act, 1961, deals with the executors and is to the following effect :'(1) subject as hereinafter provided, the income of the estate of a deceased person shall be chargeable to tax in the hands of the executor,-- (a) if there is only one executor, then ..... assessee, he shall not, in respect of that income, be assessed under any other provision of this act.' 11. section 164 of the i.t. act, 1961, deals with the charge of tax where the share of beneficiaries is indeterminate or unknown and is to the following effect:'where any income in respect of which the persons mentioned in clauses .....
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 .....
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 : Punjab and Haryana
Reported in : (1980)18CTR(P& H)248; [1982]133ITR650(P& H)
..... tribunal for the opinion of this court:'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal has rightly set aside the order dated january 9, 1974, passed by the commissioner of income-tax under section 263 of the income-tax act, 1961 ?'8. after hearing the learned counsel for the parties and going through the record of the case, we are ..... question for consideration is whether the impugned order dated 24-1-1972 of the income-tax officer was erroneous so as to enable the commissioner of income-tax to assume jurisdiction under section 263 of the income-tax act, 1961. in this connection, we may refer to sections 159 and 168 of the said act. section 159 enables the revenue to make an assessment on the legal representative 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 : Gujarat
Reported in : (1982)1GLR212; [1982]136ITR18(Guj)
..... from each of such estates was liable to be taxed separately. the argument, in other words, was that they were two separate and distinct assessable entities and that the ..... tribunal against the aforesaid decisions the submission before the tribunal was that the relevant provisions of the income-tax were required to be read along with the provisions of the indian succession act, 1925, and that since under the latter act, only such estate vested in legal ownership in the executors in respect of which they were ..... taxed in the hands of the executors of the property situate in india and that since the testator had made two distinct wills in respect of property situate in two different countries, the property situate in each country should be regarded as constituting a separate estate within the meaning of s. 168 of the i.t. act, 1961, and income .....
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 .....
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