Law:

Section:

Section 143 of the Income-tax Act, 1961 - Assessment - Protective assessment - Assessment years 1971-72 to 1973-74 - Whether an assessment made by ITO under Act cannot be a contingent one - Held, yes - Whether a protective assessment is a final determination of tax payable by assessee and is incapable of being varied, except on grounds which are available for interfering with ordinary assessment - Held, yes Section 4 of the Income-tax Act, 1961 - Association of persons - Assessable as - Assessment years 1971-72 to 1973-74 - Whether where assessments of assessees in status of individual had become final, question of assessing them in status of 'association of persons' could not arise - Held, yes Section 56 of the Income-tax Act, 1961 - Income form other sources - Chargeable as - Assessment years 1971-72 to 1973-74 - Whether where assessees constructed a building equipped with a cinema projector, furniture fittings etc., so as to make it a cinema theatre, letting out of building as a cinema theatre was inseparable from letting of machinery and, therefore, income from lease of machinery as well as income from lease of building was assessable as 'income from other sources' - Held, yes FACTS 'R', along with his four minor sons, constructed a building equipped with a cinema projector, furniture, fittings, etc., so as to make it a regular cinema theatre. The building was later leased out and Rs. 4,000 was charged as lease rent for the building and Rs. 4,500 was charged as rent for the projector, furniture, fittings, etc. On the income so derived, the father and four sons voluntarily submitted their individual returns of income showing the income of the building under the head 'Property' and the income from hiring of furniture, etc. under the head 'Other sources'. The returns were accepted by the ITO. The father's assessment for the years 1971-72 and 1972-73 was completed in the status of an individual. Similarly, assessment of one of the sons was completed for the year 1973-74 in the status of an individual. The assessments made by the ITO on 'R' had become final. However, the Commissioner invoking section 263 set aside the assessments made against father and son, and…

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