https://www.taxtmi.com/caselaws?id=460135 Co-owners who combine to hold, manage, and exploit property for income may be treated as an association of individuals under the Income-tax Act, 1922, where their arrangement goes beyond mere fortuitous co-ownership and resembles a joint enterprise. On that footing, the association can be regarded as the owner of the property for assessment under the provision taxing income from property. The Calcutta HC therefore answered the reference against the assessee and in favour of the revenue on both substantive issues. en-us Mon, 11 Mar 1935 00:00:00 +0530 Mon, 13 Jan 2025 15:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460135 Co-owners who combine to hold, manage, and exploit property for income may be treated as an association of individuals under the Income-tax Act, 1922, where their arrangement goes beyond mere fortuitous co-ownership and resembles a joint enterprise. On that footing, the association can be regarded as the owner of the property for assessment under the provision taxing income from property. The Calcutta HC therefore answered the reference against the assessee and in favour of the revenue on both substantive issues. Case-Laws Income Tax Mon, 11 Mar 1935 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460135