https://www.taxtmi.com/caselaws?id=151753 The Tribunal ruled that the income from the commercial complex should be assessed in the hands of the Association of Persons (AOP). The Tribunal upheld the validity of the reopening of the assessment under Section 147 and the notice issued under Section 143(2). The co-owners' income from the complex, including rental income and capital gains, was deemed business income of the AOP, while interest income was to be taxed in the hands of the AOP. The co-owners were considered an AOP due to joint activities and common resources. en-us Mon, 30 Apr 2007 00:00:00 +0530 Sat, 15 Jun 2013 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151753 The Tribunal ruled that the income from the commercial complex should be assessed in the hands of the Association of Persons (AOP). The Tribunal upheld the validity of the reopening of the assessment under Section 147 and the notice issued under Section 143(2). The co-owners' income from the complex, including rental income and capital gains, was deemed business income of the AOP, while interest income was to be taxed in the hands of the AOP. The co-owners were considered an AOP due to joint activities and common resources. Case-Laws Income Tax Mon, 30 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151753