https://www.taxtmi.com/caselaws?id=20599 The court held that the lease rent from Shivsagar Estates (plots A to F) accrued to individual co-owners, not an association of persons. Income from leasing plot H should be assessed individually, while interest on loans to Metropolitan Hotels Ltd. should be assessed as an association of persons. The doctrine of real income applies, and income waived due to commercial expediency should not be included in the assessee's total income. en-us Mon, 01 Mar 1993 00:00:00 +0530 Mon, 16 Nov 2009 10:36:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20599 The court held that the lease rent from Shivsagar Estates (plots A to F) accrued to individual co-owners, not an association of persons. Income from leasing plot H should be assessed individually, while interest on loans to Metropolitan Hotels Ltd. should be assessed as an association of persons. The doctrine of real income applies, and income waived due to commercial expediency should not be included in the assessee's total income. Case-Laws Income Tax Mon, 01 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20599