https://www.taxtmi.com/caselaws?id=64547 The Tribunal determined that the business arrangement between the assessee and his brother constituted an Association of Persons (AOP) or joint venture. The agreement created a relationship for mutual common advantage, with profits and losses shared equally. The Tribunal upheld the decision that the loss incurred during the period should be considered in the assessment of the AOP and not in the hands of the assessee individually. The appeal was dismissed, affirming the lower authorities' findings. en-us Tue, 04 Dec 1984 00:00:00 +0530 Tue, 08 Feb 2011 15:12:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64547 The Tribunal determined that the business arrangement between the assessee and his brother constituted an Association of Persons (AOP) or joint venture. The agreement created a relationship for mutual common advantage, with profits and losses shared equally. The Tribunal upheld the decision that the loss incurred during the period should be considered in the assessment of the AOP and not in the hands of the assessee individually. The appeal was dismissed, affirming the lower authorities' findings. Case-Laws Income Tax Tue, 04 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64547