https://www.taxtmi.com/caselaws?id=70359 Income arising from a deceased person's estate remains assessable in the hands of the executor or administrator until actual distribution, and a specific legatee is not taxable on such interest unless the amount has been clearly appropriated for the legatee's benefit. On the facts, the post-death interest on life insurance moneys was excluded from the legatee's total income. A business loss issue that had already attained finality in earlier proceedings could not be reopened in a later assessment confined to a limited direction under section 263, so the set-off claim was rejected. en-us Sat, 24 Dec 1983 00:00:00 +0530 Fri, 15 Apr 2011 17:28:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70359 Income arising from a deceased person's estate remains assessable in the hands of the executor or administrator until actual distribution, and a specific legatee is not taxable on such interest unless the amount has been clearly appropriated for the legatee's benefit. On the facts, the post-death interest on life insurance moneys was excluded from the legatee's total income. A business loss issue that had already attained finality in earlier proceedings could not be reopened in a later assessment confined to a limited direction under section 263, so the set-off claim was rejected. Case-Laws Income Tax Sat, 24 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70359