https://www.taxtmi.com/caselaws?id=37476 Interest earned on deposits and investments made by a court-appointed District Magistrate holding a company's assets was treated as income arising from property managed on behalf of the company. The representative-assessment provisions in section 41 of the Indian Income-tax Act, 1922, and sections 160(1)(iii), 161 and 166 of the Income-tax Act, 1961, permit assessment in the hands of the person managing the property as receiver or manager, while preserving attribution to the beneficial owner until lawful distribution. On that basis, the interest income was taxed as the company's income in the hands of the District Magistrate as representative assessee, in favour of the revenue. en-us Tue, 17 Jul 1979 00:00:00 +0530 Tue, 30 Mar 2010 10:43:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37476 Interest earned on deposits and investments made by a court-appointed District Magistrate holding a company's assets was treated as income arising from property managed on behalf of the company. The representative-assessment provisions in section 41 of the Indian Income-tax Act, 1922, and sections 160(1)(iii), 161 and 166 of the Income-tax Act, 1961, permit assessment in the hands of the person managing the property as receiver or manager, while preserving attribution to the beneficial owner until lawful distribution. On that basis, the interest income was taxed as the company's income in the hands of the District Magistrate as representative assessee, in favour of the revenue. Case-Laws Income Tax Tue, 17 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37476