https://www.taxtmi.com/caselaws?id=39524 Instalments received under the annuity deposit scheme were assessable as income because Chapter XXII-A treated the periodic repayment of the deposit with interest as an annuity, and section 2(24)(viii) brought annuities due under section 280D within the definition of income. The scheme also authorised payment to a nominee or, failing nomination, to a legal representative on the depositor's death, so receipt by devolution did not change the character of the amount. The instalments were therefore not capital refunds in the recipient's hands but statutory income, and they were taxable accordingly. en-us Mon, 22 Sep 1975 00:00:00 +0530 Sat, 17 Apr 2010 11:02:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39524 Instalments received under the annuity deposit scheme were assessable as income because Chapter XXII-A treated the periodic repayment of the deposit with interest as an annuity, and section 2(24)(viii) brought annuities due under section 280D within the definition of income. The scheme also authorised payment to a nominee or, failing nomination, to a legal representative on the depositor's death, so receipt by devolution did not change the character of the amount. The instalments were therefore not capital refunds in the recipient's hands but statutory income, and they were taxable accordingly. Case-Laws Income Tax Mon, 22 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39524