https://www.taxtmi.com/caselaws?id=7417 A combination of persons is treated as an association of persons for income-tax purposes when they join in a common venture to earn income; on that basis, dividend income from shares jointly acquired out of common funds was assessable in that status. By contrast, income from house property owned by co-owners fell within the special rule for co-owned house property under section 9(3) and had to be assessed in the hands of the brothers individually, even if there was some joint management of rent collection. The reference was therefore answered partly for the revenue and partly for the assessee. en-us Thu, 27 Jun 1968 00:00:00 +0530 Thu, 19 Feb 2009 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7417 A combination of persons is treated as an association of persons for income-tax purposes when they join in a common venture to earn income; on that basis, dividend income from shares jointly acquired out of common funds was assessable in that status. By contrast, income from house property owned by co-owners fell within the special rule for co-owned house property under section 9(3) and had to be assessed in the hands of the brothers individually, even if there was some joint management of rent collection. The reference was therefore answered partly for the revenue and partly for the assessee. Case-Laws Income Tax Thu, 27 Jun 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7417