https://www.taxtmi.com/caselaws?id=16943 The tax character of a resumption payment depends on the terms and source of the jagir grant and the substance of the transaction. A cash annuity received after resumption was held not to be Hindu undivided family income because the grant was made to the assessee personally, the villages had long been treated as his individual property, and family tradition alone did not establish joint family ownership. The annual life payment was also treated as compensation for loss of an income-producing capital asset, not as purchased income, so its periodic form did not make it taxable annuity income. en-us Tue, 10 Feb 1998 00:00:00 +0530 Mon, 14 Sep 2009 12:10:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16943 The tax character of a resumption payment depends on the terms and source of the jagir grant and the substance of the transaction. A cash annuity received after resumption was held not to be Hindu undivided family income because the grant was made to the assessee personally, the villages had long been treated as his individual property, and family tradition alone did not establish joint family ownership. The annual life payment was also treated as compensation for loss of an income-producing capital asset, not as purchased income, so its periodic form did not make it taxable annuity income. Case-Laws Income Tax Tue, 10 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16943