Association of persons: volition and common purpose determine tax characterisation of joint income arrangements under income tax law. The concept of association of persons requires two or more persons to join together by volition with a common purpose to produce income; mere joint ownership or receipt of income without a consensual arrangement or meeting of minds does not constitute such an association.
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Provisions expressly mentioned in the judgment/order text.
Association of persons: volition and common purpose determine tax characterisation of joint income arrangements under income tax law.
The concept of association of persons requires two or more persons to join together by volition with a common purpose to produce income; mere joint ownership or receipt of income without a consensual arrangement or meeting of minds does not constitute such an association.
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