Difference between the AOP & BOI, AJP

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srimannarayana.jeetty (Querist)
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31 July 2009 Can any one tel me the exact difference between the Association of persons and Bodi of individuals and the exat meaning of Artificial juridical person and Local authority.

Please quote any relevent case laws and examples if any for my better understading.

Abhishek Mohta

Abhishek Mohta (Expert)
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03 August 2009 There is a very thin line difference between association of Person and BOdy of individuals. As clear by the name a Body of Individuals can consists only individuals as its member whereas an association of person can have any person; person as defined in Income Tax Act includes - individuals, companies, other AOPs, BOIs etc.

Artificial Juridicial Person - If an assessee is not been able to put under the purview of any of the other categories of defined as Person then it is regarded as an artificial Juridical Person. For eg: A temple not maintained by any trust.

Local Authority - Eg: Municipal Corporation, PWD, etc.