https://www.taxtmi.com/caselaws?id=49499 The Supreme Court held that the respondent, a group involved in importing and distributing cloth, qualified as an "association of persons" under the Income-tax Act. Despite the involvement of the Deputy Commissioner in the group's operations, the Court emphasized the joint business activities and profit-sharing among members, leading to the classification as an association of persons. The Court dismissed the argument that control by the Deputy Commissioner negated this classification, affirming that the voluntary agreement to conduct business collectively was sufficient. Consequently, the Court allowed the appeals, upholding the respondent's liability for income-tax and excess profits tax assessments. en-us Mon, 06 Mar 1961 00:00:00 +0530 Sat, 30 Aug 2014 20:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49499 The Supreme Court held that the respondent, a group involved in importing and distributing cloth, qualified as an "association of persons" under the Income-tax Act. Despite the involvement of the Deputy Commissioner in the group's operations, the Court emphasized the joint business activities and profit-sharing among members, leading to the classification as an association of persons. The Court dismissed the argument that control by the Deputy Commissioner negated this classification, affirming that the voluntary agreement to conduct business collectively was sufficient. Consequently, the Court allowed the appeals, upholding the respondent's liability for income-tax and excess profits tax assessments. Case-Laws Income Tax Mon, 06 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49499