1991 (3) TMI 53

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..... nal has stated the following two questions : " 1. Whether, on the facts and in the circumstances of the case, the lease rent received by the official receiver was assessable under the head 'Profits and gains of business or profession' or under the head 'Other sources'? 2. Whether, on the facts and in the circumstances of the case, the lease rent received by the official receiver was taxable in t .....

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..... receiver should be assessed in the status of an individual with respect to the lease rent received by him. The assessment years concerned herein are 1967-68 to 1972-73. So far as question No. 1 is concerned, it is brought to our notice that the lease rent, when it was received by the co-owners, was directed to be assessed under the head "Other sources" and not under the head "Profits and gains o .....

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