KAPIL MOHAN vs THE COMMISSIONER OF INCOME TAX, DELHI.

The Supreme Court affirmed the Delhi High Court's ruling that the refund of an annuity of Rs. 12,013/- to the assessee, as Executor of the Estate of his late father under the Annuity Deposit Scheme, is assessable as income under Section 2(24)(viii) of the Income-tax Act, 1961. The Court held that the annuity qualifies as income as defined in the Act, and the Tribunal's reversal of the Appellate Assistant Commissioner's decision was justified. The judgment clarifies the applicability of Sections 280-D and 280-W regarding annuity payments to legal representatives.