https://www.taxtmi.com/caselaws?id=39578 Under section 24B, liability for a deceased assessee's income-tax arrears extends to the estate inherited by the legal representatives, but only up to the value of the estate so inherited. The inherited asset remains relevant even if it is converted into another form after inheritance, and recovery may proceed against the substituted asset to the same extent. Where the firm had notice of the tax arrears and of the deceased's property in the hands of the legal representatives, payment made to them in disregard of section 46(5A) was at the firm's risk. The firm's liability was therefore confined to the amount found due from it to the deceased's estate, and recovery was upheld. en-us Tue, 19 Nov 1974 00:00:00 +0530 Mon, 19 Apr 2010 10:02:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39578 Under section 24B, liability for a deceased assessee's income-tax arrears extends to the estate inherited by the legal representatives, but only up to the value of the estate so inherited. The inherited asset remains relevant even if it is converted into another form after inheritance, and recovery may proceed against the substituted asset to the same extent. Where the firm had notice of the tax arrears and of the deceased's property in the hands of the legal representatives, payment made to them in disregard of section 46(5A) was at the firm's risk. The firm's liability was therefore confined to the amount found due from it to the deceased's estate, and recovery was upheld. Case-Laws Income Tax Tue, 19 Nov 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39578