https://www.taxtmi.com/caselaws?id=168518 Co-owners who jointly purchased, held and managed property through powers of attorney for the common purpose of earning income were treated as an association of individuals under the Income Tax Act, 1922. The court also held that, for assessment purposes, the association could be regarded as the owner of the property under the head of income from property, and the existence of defined individual shares did not prevent that treatment while the arrangement subsisted. In light of those findings, no separate determination was required on assessment under the residuary head. en-us Thu, 11 Jul 1935 00:00:00 +0530 Wed, 11 Mar 2015 11:07:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168518 Co-owners who jointly purchased, held and managed property through powers of attorney for the common purpose of earning income were treated as an association of individuals under the Income Tax Act, 1922. The court also held that, for assessment purposes, the association could be regarded as the owner of the property under the head of income from property, and the existence of defined individual shares did not prevent that treatment while the arrangement subsisted. In light of those findings, no separate determination was required on assessment under the residuary head. Case-Laws Income Tax Thu, 11 Jul 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168518