https://www.taxtmi.com/caselaws?id=185350 Income from leased property could not be treated as business profits of an association of persons, because mere letting is not carrying on a trade or business. The beneficiaries had defined shares in the colliery income, the estate remained under a civil court receiver, and the co-owners took no part in management, so there was no combination justifying treatment as an association of persons. The receiver, being in possession and managing the business under the court's control, was the proper person for assessment. Section 41 was only a machinery provision, so the income could be assessed on the receiver or separately in the hands of each beneficiary according to their shares. en-us Fri, 29 Aug 1947 00:00:00 +0530 Wed, 10 Aug 2016 12:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185350 Income from leased property could not be treated as business profits of an association of persons, because mere letting is not carrying on a trade or business. The beneficiaries had defined shares in the colliery income, the estate remained under a civil court receiver, and the co-owners took no part in management, so there was no combination justifying treatment as an association of persons. The receiver, being in possession and managing the business under the court's control, was the proper person for assessment. Section 41 was only a machinery provision, so the income could be assessed on the receiver or separately in the hands of each beneficiary according to their shares. Case-Laws Income Tax Fri, 29 Aug 1947 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185350