https://www.taxtmi.com/caselaws?id=38258 A body of persons ceases to be an association of persons when the common venture that brought them together ends; after acquisition of the land, the original joint enterprise could no longer be pursued and mere pursuit of compensation did not create a continuing association. Compensation payable only to three recorded holders also did not accrue as income to the five persons collectively, because they had no enforceable collective right to receive it and no debt arose in their favour as a group. On that reasoning, the compensation could not be taxed in the hands of the erstwhile association or its legal heir. en-us Fri, 13 May 1977 00:00:00 +0530 Mon, 05 Apr 2010 12:12:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38258 A body of persons ceases to be an association of persons when the common venture that brought them together ends; after acquisition of the land, the original joint enterprise could no longer be pursued and mere pursuit of compensation did not create a continuing association. Compensation payable only to three recorded holders also did not accrue as income to the five persons collectively, because they had no enforceable collective right to receive it and no debt arose in their favour as a group. On that reasoning, the compensation could not be taxed in the hands of the erstwhile association or its legal heir. Case-Laws Income Tax Fri, 13 May 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38258