TaxTMI 
TaxTMI 
TaxTMI 
2008 (2) TMI 310
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....and sole surviving successor and legal heir has to be assessed in respect of the income arising to her from the properties of her late husband Shri Anandrao Puar as per the provisions of section 159 or as per the provisions of section 168 of the Act. (2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified, in relying on the judgment of the Supreme Court in the case of Navnitlal Sakerlal Vs. C.I.T. (1992)193 ITR 16), in directing deletion, from assessee's income, of the sum of Rs.12,72,790/- for asstt. Year 1981-82 and Rs.99,000/- for asstt. Year 1982-83 which represented income arising from the properties of the assessee's late husband ? (3) Whether, on the facts and in the circumstances of the case, the....
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....uting will. He was survived by the assessee, widow of the deceased, as his only legal heir. 4. The stand of Revenue was that the income arising from the estate of the deceased had to be taxed in hands of the assessee as an individual considering that deceased had died intestate and the assessee was the only legal heir. The assessment made by the Assessing Officer was confirmed by Commissioner (Appeals) but has since been reversed by the Tribunal. The reasons which have weighed with the Tribunal are that the assessee, in the capacity as an executor of the estate, has been assessed on substantive basis as an executor of the estate of her late husband both under the Wealth Tax and Income Tax by the Assessing Officer, Indore for Assessment Yea....
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....to Wealth tax only after the estate has been fully administered and the residue becomes available to the individual. Mr. Naik vehemently contended that the said decision rendered by High Court of Madhya Pradesh requires to be distinguished as the said judgment is either sub silentio or is contrary to law and hence cannot have any binding effect so far as this Court is concerned. In support of this submission reliance has been placed on the following decisions : (1) Reg. Director, ESI Corporation Vs. Kirloskar Bros. (1987)2 Comp. LJ 66 (M.P.) (2) British India Corporation Ltd. Vs. CIT. [1966] 60 I.T.R. 793 (All); (3) M. M. Ipoh & Ors. Vs. CIT, Madras. [1968] 67 ITR 106 (SC). (4) Arvind Boards & Paper Products Ltd. Vs. CIT (Guj). (1982) 1....