Allowable busniss expenses - Diversion of income - Though the ...

Joint Venture Income Classification: Substance Over Form in Tax Assessment and Expense Allowability.

March 1, 2018

Case Laws Income Tax AT

Allowable busniss expenses - Diversion of income - Though the amount has been received by the assessee, the same is collected on behalf of the joint venture - It is the settled law that the accounting entries are not determinative of the actual nature of the transaction; it is the substance that prevails. - AT

View Source

← Previous Next →

Allowable busniss expenses - Diversion of income - Though the ...

Joint Venture Income Classification: Substance Over Form in Tax Assessment and Expense Allowability.

March 1, 2018

Case Laws Income Tax AT

You may also like:

Credit of TDS can be given only in the hands where income therefrom is subjected to tax. If accrual of income in respect of the receipts received dejure by joint venture...

Charitable institution invested funds in shares of joint venture companies, violating Section 13(1)(d). Exemption u/s 11 denied for income from such investment. However,...

Levy of service tax - contribution to Joint Venture / Partnership arrangements - it is clearly impermissible to hold that the contribution made by a co-venturer...

Classification of services - Business Support Services or not - Joint venture - co-developer or agent - if strictly go through the above agreement, it is nowhere...

Levy of Service Tax - Joint venture - expenditure incurred by the appellant, in respect of its employees and assets which were deployed for undertaking joint operations...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Joint Venture - taxable services provided by the members of the Joint Venture (JV) to the JV and vice versa and inter se between the members of the JV-reg.

Classification of services - support services of business or commerce or not - Such public private partnerships are at times described as collaboration, joint venture,...

Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

Nature of receipt - option price received against to sell the shares of the joint-venture company - After considering all these facts the Dabur has invested into the...

A “joint venture” would mean a joint arrangement, entered into in writing, whereby the parties that have joint control of the arrangement, have rights to the net assets...

Levy of Service Tax - Business Auxiliary Service (BAS) - Sharing of Revenue - unincorporated joint venture / JV agreement - there is no relationship of service provider...

Works Contract - applicable rate of GST - AMC services - principal supply or not - Composite supply or not - bundled supply or mixed supply - it is a naturally bundled...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

Quick Updates: