Judgment Search Results Home > Cases Phrase: income tax act 1961 section 168 executors Sorted by: old Page 3 of about 164,455 results (1.546 seconds)

K. R. Patel Vs. Commissioner of Income Tax

Court : Supreme Court of India

Reported in : [1999]106TAXMAN151(SC)

..... and in the circumstances of the case, k.r. patel and b.g. amin were liable to be assessed as trustees under section 161 of the income-tax act, 1961?" these questions arose from the order of the appellate tribunal in the following circumstances.one mrs. bhikubai chandulal jalundhwala, a resident of bombay, executed a will ..... bench of the high court of judicature at bombay on a reference under section 256(1) of the income-tax act, 1961 (for short the 'act') decided all the three questions of law referred to it for its opinion by the income tax appellate tribunal ('appellate tribunal' for short) in favour of the revenue. the assessee is aggrieved.the questions ..... negatived by the revenue being of the view that section 176(4)of the income tax act, 1961 specifically provided for taxability of the professional income received after discontinuance of the profession and included the arrears of the professional fees in the income earned from the estate of the deceased. the court held that the arrears .....

K. R. Patel Vs. Commissioner of Income-tax

Court : Supreme Court of India

Reported in : (1999)155CTR(SC)585

..... whether, on the facts and in the circumstances of the case, k.r. patel and b.g. amin were liable to be assessed as trustees under section 161 of the income tax act, 1961?'these questions arose front the order of the tribunal in the following circumstances.2. one mrs. bhikhubai chandulal jalundhwala, a resident of bombay, executed a will on 5-1-1962 ..... wadhwa, j.a division bench of the high court of judicature at bombay on a reference under section 256(1) of the income tax act, 1961 ('the act') decided all the three questions of law referred to it for its opinion by the tribunal in favour of the revenue. the assessee is aggrieved. the questions of law ..... not been fully discharged, the trustees could be assessed only as executors under section 41 of the indian income tax act, 1922 and income was not exempt from tax. the question which came up for consideration of the court was whether any part of the income of the estate of the testator was exempt under the proviso to section 4(3)(1) of the .....

The Commissioner of Income Tax Madurai Vs. Smt. P. Manonmani, Karur

Court : Chennai

Reported in : 2000(2)CTC1; [2000]245ITR48(Mad)

..... lite, was different from the administrator contemplated by section 168 of the income-tax act and that section 68 would not apply to such administrator pendente lite. the court observed:'we have noted s. 168 and sub-section. (3) and (4) of the i.t. 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 distribute the assets then sub-s.(3) and sub-section (4) would be, inappropriate.'23. in the case of commissioner of income-tax, gujarat ..... net wealth as on the valuation date. that, however, does not make any significant difference to the interpretation of section 19a of the wealth-tax act and section 168 of the income-tax act, in so far as explanations attached to those provisions which are couched in identical language are concerned.28. we hold that extended definition of .....

income Tax Officer Vs. Estate of Late K. S. Engineer

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... is to be noted that this decision was rendered under the 1922 act, where there was no express provision corresponding to s. 168 of the 1961 act. however, the income of the estate of a deceased person was held liable to income-tax under the general charging provisions of that act, in the hands of the executors or administrators in whom the estate ..... vested. under s. 168 of the new act, the subject-matter of assessment is the "income" of the estate of ..... change in the position obtaining prior to 1961, when the it act was introduced and under the said section, any sum received after the discontinuance of the profession due to the death of the person to earn the income could be brought to tax. he also held that under s. 168, the income of the estate of the deceased person .....

income Tax Officer Vs. Estate of Late K.S. Engineer

Court : Mumbai

Reported in : (2001)70TTJ(Mumbai)161

..... the assessing officer, but they were all negatived and the amount of fees were brought to tax. the appellate assistant commissioner held that section 176(4) brought about a change in the position obtaining prior to 1961, when the income tax act was introduced and under the said section, any sum received after the discontinuance of the ..... profession due to the death of the person to earn the income could be brought to tax. he also held that under section 168, the income of the estate of the deceased ..... to be noted that this division was rendered under the 1922 act, where there was no express provision corresponding to section 168 of the 1961 act. however, the income of the estate of a deceased person was held liable to income-tax under the general charging provisions of that act, in the hands of the executors or administrators in whom .....

Asstt. Commissioner of Wealth Tax Vs. Smt. Mrunalinidevi Puar of Dhar

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. .....

Commissioner of Income Tax Vs. A.M.L. Price

Court : Allahabad

Reported in : (2007)211CTR(All)15

..... referred the following questions of law under section 256(1) of the it act, 1961 (hereinafter referred to as 'the act') for opinion to this court:1. whether on the facts and in the circumstances of the case, the tribunal was legally correct to hold that the share of income from the estate of the deceased was not includible in the hands ..... be obtained from the court of competent jurisdiction as necessary steps were not taken. the application for probate was rejected on technical grounds and not on merits. before the tax authorities, the assessee's case was that since probate was not granted for technical reasons, the will continued to hold the field and, therefore, in terms of the ..... -ao, the assessee who was the sole surviving brother of sri j.a.w. price, was the legal heir and the entire income from the property in question was assessable in his hands. the dy. cit(a) upheld the orders of the ao. in appeal, the tribunal opined that since the probate application had been rejected on technical .....

Cit Vs. Mrunalinidevi Puar of Dhar

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 .....

First Wealth-tax Officer Vs. Smt. N.P. Saraswathi Ammal

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 .....

Jayakumari and Dilharkumari Vs. Commissioner of Income-tax

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 .....