1991 (4) TMI 162

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....eof she was a member. She claimed inclusion thereof in her total income for rate purposes only as per provisions of s. 167A of the IT Act, 1961 (the Act) as it stood at the relevant time. The ITO, however, included the same for tax purposes under s. 86 (v) of the Act as in his opinion no tax had been paid by the AOP's in respect of the aforesaid amount. In appeal, the CIT(A) accepted the contentio....

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....e normal rates after allowing the benefits of basic exemption. But no part of income of an AOP wherein the shares of its members were indeterminate or unknown was includible in the total income of the member concerned even for rate purposes. However, for and from asst. yr. 1981-82, in view of the provisions of the Explanation to s. 86(v) each of the members of the AOP (as contemplate by s. 167A) i....

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....be applied to the income of a member of such association, every member will be deemed to be entitled to receive an equal share in the total income of the association and the amount of income so determined will be included in his assessment for rate purposes. (ii) Where the shares of members of an association of persons in only a part of its income are indeterminate or unknown, the association w....