https://www.taxtmi.com/caselaws?id=351726 The court determined the status of the assessee as an Association of Persons (AOP) with indeterminate shares, leading to taxation at the maximum marginal rate. Despite the Deputy Commissioner recognizing the partnership status, the Tribunal upheld the AOP status due to the absence of a partnership agreement. The court emphasized the necessity of an agreement to establish a partnership, which was lacking in this case. Additionally, the court affirmed the indeterminate shares of the AOP members based on their statements, resulting in a ruling in favor of the Revenue and against the assessee. en-us Thu, 08 Jun 2017 00:00:00 +0530 Thu, 30 Nov 2017 08:43:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351726 The court determined the status of the assessee as an Association of Persons (AOP) with indeterminate shares, leading to taxation at the maximum marginal rate. Despite the Deputy Commissioner recognizing the partnership status, the Tribunal upheld the AOP status due to the absence of a partnership agreement. The court emphasized the necessity of an agreement to establish a partnership, which was lacking in this case. Additionally, the court affirmed the indeterminate shares of the AOP members based on their statements, resulting in a ruling in favor of the Revenue and against the assessee. Case-Laws Income Tax Thu, 08 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351726