1991 (3) TMI 53 - HC - Income Tax

Summary

The High Court of Allahabad ruled that the lease rent received by the official receiver should be assessed under the head "Other sources" and not "Profits and gains of business." The official receiver should be taxed as an individual, not as an association of persons. The judgment was delivered by B. P. JEEVAN REDDY C. J. and the reference was ordered accordingly with no costs.