https://www.taxtmi.com/caselaws?id=28292 Lease income from the cinema theatre was separately assessable in the hands of the two co-owners where the rent under the lease deed was fixed individually in proportion to their respective shares. The common lease deed was treated as a convenient method of letting one property with machinery and furniture, not as proof of a joint venture or common intention to earn income together. As each co-owner had acquired a distinct share from different sources, the facts negatived an association of persons. The income was therefore assessable separately in each co-owner's hands, not as income of an association of persons. en-us Mon, 23 Jul 1979 00:00:00 +0530 Sat, 20 Feb 2010 12:08:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28292 Lease income from the cinema theatre was separately assessable in the hands of the two co-owners where the rent under the lease deed was fixed individually in proportion to their respective shares. The common lease deed was treated as a convenient method of letting one property with machinery and furniture, not as proof of a joint venture or common intention to earn income together. As each co-owner had acquired a distinct share from different sources, the facts negatived an association of persons. The income was therefore assessable separately in each co-owner's hands, not as income of an association of persons. Case-Laws Income Tax Mon, 23 Jul 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28292