TAX UPDATES: Punjab & Haryana High Court in Sudhir Nagpal and Bros. ITA 463/2009 explained that if individual co owners join their resources and acquire property in name of AOP, only then it could be assessed in hands of AOP.Mere accruing of income to more than one person shall not constitute AOP.

Wednesday 30 December 2015

Punjab & Haryana High Court in Sudhir Nagpal and Bros. ITA 463/2009 explained that if individual co owners join their resources and acquire property in name of AOP, only then it could be assessed in hands of AOP.Mere accruing of income to more than one person shall not constitute AOP.

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