https://www.taxtmi.com/caselaws?id=49495 Where co-heirs and court-appointed receivers continued to operate an indivisible beedi business with unity of control and by mutual consent, their conduct constituted an association of persons for income tax purposes; the Court applied prior precedent that heirs may elect to retain and manage a business as a joint enterprise and that pending partition does not defeat such an association if the business is conducted as a single unit. The income for the stated accounting years was therefore assessable as the income of an association of persons and the appeals were dismissed. en-us Wed, 18 Jan 1961 00:00:00 +0530 Sat, 31 Dec 2016 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49495 Where co-heirs and court-appointed receivers continued to operate an indivisible beedi business with unity of control and by mutual consent, their conduct constituted an association of persons for income tax purposes; the Court applied prior precedent that heirs may elect to retain and manage a business as a joint enterprise and that pending partition does not defeat such an association if the business is conducted as a single unit. The income for the stated accounting years was therefore assessable as the income of an association of persons and the appeals were dismissed. Case-Laws Income Tax Wed, 18 Jan 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49495