Deemed equal shares for association members with indeterminate interests, treating each member as entitled to equal part of income. An Explanation to clause (v) of section 86 deems that where an association of persons assessable under the special provision has members whose shares in the whole or part of the income are indeterminate or unknown, each member shall be treated as entitled to an equal share of that total income or part thereof, and each individual share shall be determined accordingly.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed equal shares for association members with indeterminate interests, treating each member as entitled to equal part of income.
An Explanation to clause (v) of section 86 deems that where an association of persons assessable under the special provision has members whose shares in the whole or part of the income are indeterminate or unknown, each member shall be treated as entitled to an equal share of that total income or part thereof, and each individual share shall be determined accordingly.
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