https://www.taxtmi.com/caselaws?id=26034 Following its earlier decision in the same assessee's matter, the Karnataka HC treated the assessment under section 168 of the Income-tax Act, 1961 as valid. It also held that both the principal instalment and the interest on the annuity deposit were taxable under the applicable provisions. On the deduction question, the Court held that proportionate estate duty payable on the annuity deposit was not deductible in computing the income assessable from that deposit. All three referred questions were thus answered against the assessee by applying the prior binding ruling on the same subject-matter. en-us Thu, 03 Jul 1986 00:00:00 +0530 Tue, 02 Feb 2010 13:42:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26034 Following its earlier decision in the same assessee's matter, the Karnataka HC treated the assessment under section 168 of the Income-tax Act, 1961 as valid. It also held that both the principal instalment and the interest on the annuity deposit were taxable under the applicable provisions. On the deduction question, the Court held that proportionate estate duty payable on the annuity deposit was not deductible in computing the income assessable from that deposit. All three referred questions were thus answered against the assessee by applying the prior binding ruling on the same subject-matter. Case-Laws Income Tax Thu, 03 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26034