https://www.taxtmi.com/caselaws?id=176100 A decree under section 14(7) of the U.P. Government Encumbered Estates Act, 1934 does not transfer the original debtor's liability to the State; it merely enables recovery of the decretal amount, while the debtor remains liable and the Act's machinery proceeds on that basis. In the income-tax context, an assessee who did not consistently appropriate an execution receipt towards interest in his accounts or return could not later re-characterise it as interest. The receipt was therefore treated as having been taken towards principal, and the assessee was bound by the character he had earlier assigned to it. en-us Tue, 28 Aug 1962 00:00:00 +0530 Sat, 12 Dec 2015 10:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176100 A decree under section 14(7) of the U.P. Government Encumbered Estates Act, 1934 does not transfer the original debtor's liability to the State; it merely enables recovery of the decretal amount, while the debtor remains liable and the Act's machinery proceeds on that basis. In the income-tax context, an assessee who did not consistently appropriate an execution receipt towards interest in his accounts or return could not later re-characterise it as interest. The receipt was therefore treated as having been taken towards principal, and the assessee was bound by the character he had earlier assigned to it. Case-Laws Income Tax Tue, 28 Aug 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176100