ITAT deletes Disallowance u/s 40A(2)(B) upon Estimated Income from Sub-Contract of Joint Venture [Read Order]

By Fathima Karama A.M - On October 28, 2023 1:30 pm - 2 mins read

ITAT deletes Disallowance - Estimated Income - Sub-Contract of Joint Venture - Joint Venture - Income Tax Act - Income Tax - ITAT - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance under Section 40A(2)(B) of the Income Tax Act 1961, upon estimated income from subcontract of joint venture The assessee TAPI Prestressed Products Ltd. (TPPL) and JITF Water Infrastructure Ltd. (JWIL) had entered into an agreement to form a Joint Venture (JV) with…

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