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 : 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 : 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 .....
Tag this Judgment!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 .....
Tag this Judgment!Court : Chennai
Reported in : (1996)130CTR(Mad)488; [1996]217ITR282(Mad)
..... the estate of the deceased periyaswamy in terms of s. 168 r/w the explanation thereto of the it act, 1961, hereinafter referred to as 'the act'. they thus were not liable to be assessed on the 1/6th share of the income from the property which belonged to periyaswamy, the deceased. the aac accepted their case. the revenue ..... court in this case also observed : 'the nature of the charge in the two acts has no similarity. while under the indian it act the liability to pay income-tax accrues on the income earned throughout the accounting year, the liability to be assessed to wealth-tax arises only in respect of the net wealth held on a particular date, namely, ..... estate of a deceased person. this does not mean that the administrator includes the de facto administrator. while considering a question of similar nature in mahamaya dassi vs. cit : [1980]126itr748(cal) , the calcutta high court held that s. 247 only contemplates the preservation of the property until the question as to the existence or .....
Tag this Judgment!Court : Chennai
Reported in : [1995]215ITR662(Mad)
..... the same by metes and bounds. therefore, the assessment was required to be made in respect of such income under section 168 of the income-tax act, 1961, in the representative capacity. however, the income-tax officer did not accept the contention put forward by the assessee. the income-tax officer was of the view that on the death of the deceased, his heirs succeeded to the properties under ..... section 8 of the hindu succession act. the income-tax officer pointed out that they took the estate as tenants-in-common .....
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 .....
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