https://www.taxtmi.com/caselaws?id=75947 The court ruled that the MRMB Consortium, comprising Mitsubishi Corporation, Hyundai Rotem Company, Mitsubishi Electric Corporation, and BEML Limited, cannot be treated as an Association of Persons for tax assessment under the Income-tax Act, 1961. The consortium members are to be assessed as separate taxable entities. This decision was based on factors such as distinct roles and responsibilities, lack of joint control or interdependence, and specific declarations in the consortium agreement ruling out a partnership or joint venture. en-us Tue, 23 Mar 2010 00:00:00 +0530 Fri, 05 Jul 2013 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75947 The court ruled that the MRMB Consortium, comprising Mitsubishi Corporation, Hyundai Rotem Company, Mitsubishi Electric Corporation, and BEML Limited, cannot be treated as an Association of Persons for tax assessment under the Income-tax Act, 1961. The consortium members are to be assessed as separate taxable entities. This decision was based on factors such as distinct roles and responsibilities, lack of joint control or interdependence, and specific declarations in the consortium agreement ruling out a partnership or joint venture. Case-Laws Income Tax Tue, 23 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75947