https://www.taxtmi.com/caselaws?id=27611 Amounts received back under the annuity deposit scheme retained their character as income and did not become return of capital. Read with the Income-tax Act, 1961, the statutory scheme treated the instalments as income in the depositor's hands and, on the depositor's death, as taxable in the hands of the legal representative or nominee. The amount received from the annuity deposit was therefore includible in the income of the deceased assessee's estate, and the taxability question was answered for the Revenue. en-us Wed, 16 Nov 1983 00:00:00 +0530 Sun, 02 May 2010 23:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27611 Amounts received back under the annuity deposit scheme retained their character as income and did not become return of capital. Read with the Income-tax Act, 1961, the statutory scheme treated the instalments as income in the depositor's hands and, on the depositor's death, as taxable in the hands of the legal representative or nominee. The amount received from the annuity deposit was therefore includible in the income of the deceased assessee's estate, and the taxability question was answered for the Revenue. Case-Laws Income Tax Wed, 16 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27611