B.P.Jeevan Reddy, C.J. - (1.) Under Section 256(2) of the Income-tax Act, 1961, the Tribunal 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 the status as 'association of persons' or 'individual' ?" 2. The assessee is unrepresented. It is brought to our notice by learned standing counsel for the Revenue that both the questions are covered by earlier decisions of this court. So far as question No. 2 is concerned, an identical question for the assessment years 1973-74 and 1974-75 was dealt with by a Bench of this court in CIT v. S. B. Sugar Mills [1985] 156 ITR 273, in an application under Section 256(2) of the Income-tax Act. It was held that the lease rent received by the official receiver was not taxable treating him as an association of persons. In that, case, it appears, the Tribunal had held that the official receiver must be taxed as an individual. Following the said decision, question No. 2 is answered saying that the official 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.
(3.) 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 of business". Learned standing counsel points out that since the official receiver merely steps into the shoes of the co-owners, his position cannot be different. We agree with him and that is also the view of the Tribunal. Accordingly, we answer question No. 1 to the effect that the lease rent received by the official receiver is assessable under the head "Other sources" and not under the head "Profits and gains" of business.;