https://www.taxtmi.com/caselaws?id=6391 An association of persons exists only where two or more persons voluntarily combine in a common purpose or common action to produce income. For 1957-58 and 1958-59, the assessees' own returns in that status, left unwithdrawn and unrevised, were treated as important evidence and were not displaced; assessment as an association of persons was upheld. For 1959-60 to 1962-63, mere joint ownership of shares and joint receipt of dividends, without joint management or other proof of a voluntary combination, was insufficient; assessment in that status was rejected and the income was treated as individually assessable. en-us Thu, 08 Feb 1973 00:00:00 +0530 Fri, 14 Feb 2025 15:28:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6391 An association of persons exists only where two or more persons voluntarily combine in a common purpose or common action to produce income. For 1957-58 and 1958-59, the assessees' own returns in that status, left unwithdrawn and unrevised, were treated as important evidence and were not displaced; assessment as an association of persons was upheld. For 1959-60 to 1962-63, mere joint ownership of shares and joint receipt of dividends, without joint management or other proof of a voluntary combination, was insufficient; assessment in that status was rejected and the income was treated as individually assessable. Case-Laws Income Tax Thu, 08 Feb 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6391