https://www.taxtmi.com/caselaws?id=765343 ITAT Ahmedabad set aside CIT(A)'s order upholding CPC's levy of surcharge at maximum marginal rate under Section 167B on rental income earned by an AOP. The tribunal found that while co-ownership agreement specified determinate shares, records didn't establish individual co-owners' tax rates. Matter remanded to AO to verify each co-owner's taxability - if none taxable above MMR, income to be taxed at normal slab rates under Section 167B(2); if any co-owner taxable above MMR, entire AOP income taxable at MMR. Appeals allowed for statistical purposes. en-us Tue, 28 Jan 2025 00:00:00 +0530 Thu, 30 Jan 2025 08:24:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765343 ITAT Ahmedabad set aside CIT(A)'s order upholding CPC's levy of surcharge at maximum marginal rate under Section 167B on rental income earned by an AOP. The tribunal found that while co-ownership agreement specified determinate shares, records didn't establish individual co-owners' tax rates. Matter remanded to AO to verify each co-owner's taxability - if none taxable above MMR, income to be taxed at normal slab rates under Section 167B(2); if any co-owner taxable above MMR, entire AOP income taxable at MMR. Appeals allowed for statistical purposes. Case-Laws Income Tax Tue, 28 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765343