Assessee, an Association of Persons (AOP), was a joint venture between TPL and Chint. Assessing Officer applying tax rate of 40 per cent on entire taxable income instead of 30 per cent offered by assessee on reasoning that one of members of AOP; being foreign company, whose income was above taxable limit, was paying tax at rate of 40 per cent. CIT(A) up held the order of the AO. On appeal the Tribunal held that  since assessee had clearly mentioned in its ITR that members’ share in AOP’s profit was determinate i.e., TPL 99.99 per cent and Chint 0.01 per cent, since TPL is  domestic company and Chint was a Chinese company, 99.99 per cent of income of TPL is  to be taxed at maximum marginal rate (MMR) of 30 per cent plus surcharge and cess and 0.01 per cent of income of Chint at MMR of 40 per cent plus surcharge and cess. (AY. 2019-20)