Assessee is  an Association of Persons (AOP) engaged in managing rental income from co-owned immovable property.  Assessee filed its return of income which was processed by CPC raising demands due to classification of assessee as an AOP with indeterminate or unknown shares, leading to application of maximum marginal rate under section 167B. CIT(A) dismissed the appeal. On appeal the Tribunal held that  since co-ownership agreement specified that rental income would be distributed among co-owners in specific and pre-determined proportions after meeting all tax and other liabilities, shares of co-owners were specific and ascertainable, thus, provisions of section 167B which apply when shares are indeterminate or unknown, were inapplicable. Accordingly the  matter is  remanded back to Assessing Officer for verification. (AY. 2012-13, 2013-14)