https://www.taxtmi.com/caselaws?id=276969 A proviso excluding distribution of capital assets under a will applied only to distribution in specie and not to a prior sale by an administrator followed by payment of the sale proceeds, so the realised gain remained taxable under section 12B(1) of the Income-tax Act, 1922. Section 24B did not exempt an administrator from liability for capital gains arising from the administration of the estate, because it only fastened representative liability for tax otherwise borne by the deceased. The challenge to the capital gains charge as ultra vires was rejected, and the gains were treated as assessable in the administrator's hands. en-us Wed, 25 Aug 1954 00:00:00 +0530 Wed, 21 Nov 2018 13:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276969 A proviso excluding distribution of capital assets under a will applied only to distribution in specie and not to a prior sale by an administrator followed by payment of the sale proceeds, so the realised gain remained taxable under section 12B(1) of the Income-tax Act, 1922. Section 24B did not exempt an administrator from liability for capital gains arising from the administration of the estate, because it only fastened representative liability for tax otherwise borne by the deceased. The challenge to the capital gains charge as ultra vires was rejected, and the gains were treated as assessable in the administrator's hands. Case-Laws Income Tax Wed, 25 Aug 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276969