Supreme Court · 1998 INSC 488 · Decided 18 December 1998
Kapil Mohan v. The Commissioner of Income Tax, Delhi
- Court
- Supreme Court of India
- Citation
- 1998 INSC 488 · [1998] SUPP. 3 S.C.R. 647
- Case number
- CIVIL APPEAL No. 5264/1990
- Decided
- 18 December 1998
- Bench
- S.P. BHARUCHA, D.P. MOHAPATRA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 2(24)(viii)
Headnote
B Income Tax Act, 1961-Sections 2(24)(viii); Chapter XXll-A, Sec/Ions 280-B(4), 280-B(6), 280-C, 280-D, 280W, I 59-Annuity Deposit Scheme, 1964-Paras 4(a), 6, 7,9, Form 7-Deposit made under, by the original depositor refundable to him in 10 equal instalments of principal and interest under the C to the legal representative, the son/executor-Nature of­ Held, the payment of the unpaid balance of the annuity deposit to the legal representative is the repayment of capital though so paid in annuity form­ Such repayment of capital not liable to tax as income in the hands of the D legal
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