Per Shri T.N.C. Rangarajan, Judicial Member - These appeals am directed against the assessment of capital gains in the hands of two individuals on the ground that it was assessable in the hands of an AOP formed by them.

2. The admitted facts are as follows : One Shri Gururajachar died on 9-2-1969 leaving behind him his two wives, Smt. Bhoomiamma and Smt. Sunandamma, the assessees before us. He died intestate and one of the assets of his estate was the premises in which hotel business was carried on in the name of Neo Mysom Cafe. After his death the two assessees let out the business under a lease deed reserving as consideration on an mount for the premises and a separate amount for the use of the other equipment. The income derived was thus assessed partly as income from property and partly as income from other sources in their individual hands. However, on 3-9-1973 a fresh lease deed was executed with effect from 1-9-1973 under which the entire business was given on lease as a going concern reserving a monthly rent of Rs. 8,000. The assessees contended that this income was derived as an AOP. For the assessment years 1974-75 and 1975-76 that contention was accepted by the order