1996 (5) TMI 75

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....75 : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the refund of annuity of Rs. 19,656 to the assessee (as the executor of the estate of the late Shri N. N. Mohan) was income assessable in his hands as such executor, for each of the assessment years 1971-72, 1972-73, 1973-74 and 1974-75 ? " For assessment years 1975-76 and 1977-78 : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the refund of annuity of Rs. 19,656 for the assessment year 1975-76 and Rs. 11,586 for the assessment year 1977-78 to the assessee as an executor of the estate of his late father, Padam Shree N. N. Mohan, was his income and was assessable in h....

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.... Revenue, has invited our attention to an earlier decision of this court in the case of the assessee, reported as Padam Shree N. N. Mohan v. CIT [1984] 150 ITR 92, wherein it has been held that the refund of annuity deposit received by the executor of the estate of the deceased depositor is income assessable in the hands of the executor. On the other hand, Mr. P. N. Monga, learned counsel for the assessee, has contended that the said decision requires reconsideration because it is based on another decision of this court in CIT v. O. N. Talwar [1980] 123 ITR 80, which has no application to a case like the present one. He sought to distinguish the decision in O. N. Talwar's case [1980] 123 ITR 80 (Delhi) on the facts on the ground that in ....