https://www.taxtmi.com/caselaws?id=16206 A concern formed only to purchase lottery tickets and divide any winnings was treated as not carrying on a business under the Income-tax Act, because such activity is extra-commercium and lacks the agency element required for a partnership under the Partnership Act. On that basis, the arrangement could not be regarded as a genuine firm entitled to registration under section 185(1)(a). The tax consequence noted is that the income was assessable in the status of an association of persons or body of individuals rather than in the hands of the individual partners. en-us Thu, 19 Mar 1998 00:00:00 +0530 Tue, 01 Sep 2009 17:52:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16206 A concern formed only to purchase lottery tickets and divide any winnings was treated as not carrying on a business under the Income-tax Act, because such activity is extra-commercium and lacks the agency element required for a partnership under the Partnership Act. On that basis, the arrangement could not be regarded as a genuine firm entitled to registration under section 185(1)(a). The tax consequence noted is that the income was assessable in the status of an association of persons or body of individuals rather than in the hands of the individual partners. Case-Laws Income Tax Thu, 19 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16206