https://www.taxtmi.com/caselaws?id=11165 The High Court ruled in favor of the assessee, holding that section 167A of the Income-tax Act, 1961 was not applicable to an association of persons for the assessment year 1984-85. The Court found that the shares of the members were determinate at the association's formation and remained so, despite provisions allowing for the admission of new members in the future. As the shares were specific and known, section 167A did not apply. Consequently, the Court dismissed the Revenue's appeal and sided with the assessee, resolving the matter in favor of the latter. en-us Thu, 22 Jan 2004 00:00:00 +0530 Tue, 21 Apr 2009 15:58:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11165 The High Court ruled in favor of the assessee, holding that section 167A of the Income-tax Act, 1961 was not applicable to an association of persons for the assessment year 1984-85. The Court found that the shares of the members were determinate at the association's formation and remained so, despite provisions allowing for the admission of new members in the future. As the shares were specific and known, section 167A did not apply. Consequently, the Court dismissed the Revenue's appeal and sided with the assessee, resolving the matter in favor of the latter. Case-Laws Income Tax Thu, 22 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11165