Mother and two minor sons having common interest in the inherited business carried on for the benefit of all by one of them would constitute ‘BOI's
Key observation by the court in the case of Deccan Wine & General Stores Vs. ...
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Posts tagged "Business inherited by legal heir after death of father"
Caution Point: When co-owners employ their assets in a joint enterprise with a view to earn profit, by reason of their common purpose or common action they constitute an AOP
Caution Point: When co-owners employ their assets in a joint enterprise with a view to earn profit, by reason of their common purpose or common action they constitute an AOP
Liability in the hands of AOP or individual is often ...
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