https://www.taxtmi.com/caselaws?id=36860 Annuity deposit repayments were treated as income under Chapter XXII-A and section 2(24)(viii) of the Income-tax Act, 1961, because section 280D deems the annual instalments received under the scheme to be taxable receipts. Even where a Hindu undivided family had disrupted, the karta or erstwhile member who had made the deposit remained the depositor in the formal sense for the scheme, so repayment did not fall outside taxation merely because of disruption. The principal component was also taxable, since the statute expressly brought the repayment within income and did not preserve it as exempt capital return. The annuity repayment attributable to the assessee's share was therefore chargeable to tax. en-us Mon, 18 Feb 1980 00:00:00 +0530 Thu, 25 Mar 2010 10:52:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36860 Annuity deposit repayments were treated as income under Chapter XXII-A and section 2(24)(viii) of the Income-tax Act, 1961, because section 280D deems the annual instalments received under the scheme to be taxable receipts. Even where a Hindu undivided family had disrupted, the karta or erstwhile member who had made the deposit remained the depositor in the formal sense for the scheme, so repayment did not fall outside taxation merely because of disruption. The principal component was also taxable, since the statute expressly brought the repayment within income and did not preserve it as exempt capital return. The annuity repayment attributable to the assessee's share was therefore chargeable to tax. Case-Laws Income Tax Mon, 18 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36860