https://www.taxtmi.com/caselaws?id=28432 The court concluded that the assessment in the status of 'body of individuals' for the share income from the firm was invalid. The agreement between Shankaraiah and his minor sons did not create a 'body of individuals' as there was no unity of interest or common design among the family members. The court held that Shankaraiah would be holding the income received by him as a constructive trustee for the benefit of the minors, creating a superior title in their favor. Therefore, the assessment was deemed invalid, and the decision favored the assessee. en-us Fri, 22 Apr 1983 00:00:00 +0530 Mon, 22 Feb 2010 16:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28432 The court concluded that the assessment in the status of 'body of individuals' for the share income from the firm was invalid. The agreement between Shankaraiah and his minor sons did not create a 'body of individuals' as there was no unity of interest or common design among the family members. The court held that Shankaraiah would be holding the income received by him as a constructive trustee for the benefit of the minors, creating a superior title in their favor. Therefore, the assessment was deemed invalid, and the decision favored the assessee. Case-Laws Income Tax Fri, 22 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28432