https://www.taxtmi.com/caselaws?id=66019 The appeal focused on determining the assessment status of the appellants who jointly won a prize from a Small Savings Prize Deposit Receipt. The Income-tax Officer initially assessed them as a Body of Individuals, which was upheld by the Appellate Assistant Commissioner. However, the Appellate Tribunal overturned this decision, citing that the prize was obtained without the appellants actively pursuing it. Referring to relevant case law, the Tribunal concluded that the appellants' investment did not constitute them as a body of individuals. Therefore, the assessment status was changed, and the protective assessments were treated as regular assessments, resulting in the appeal being allowed in favor of the appellants. en-us Tue, 12 May 1987 00:00:00 +0530 Sat, 19 Feb 2011 18:40:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66019 The appeal focused on determining the assessment status of the appellants who jointly won a prize from a Small Savings Prize Deposit Receipt. The Income-tax Officer initially assessed them as a Body of Individuals, which was upheld by the Appellate Assistant Commissioner. However, the Appellate Tribunal overturned this decision, citing that the prize was obtained without the appellants actively pursuing it. Referring to relevant case law, the Tribunal concluded that the appellants' investment did not constitute them as a body of individuals. Therefore, the assessment status was changed, and the protective assessments were treated as regular assessments, resulting in the appeal being allowed in favor of the appellants. Case-Laws Income Tax Tue, 12 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66019