Definition of joint venture in India clarified as contractual economic activity under joint control with non resident substantial interest. The amendment adds an explanation to clause (c) of section 23A defining joint venture in India as a contractual arrangement where two or more persons undertake an economic activity under joint control and where one or more participants, partners or equity holders are non residents with a substantial interest in the arrangement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Definition of joint venture in India clarified as contractual economic activity under joint control with non resident substantial interest.
The amendment adds an explanation to clause (c) of section 23A defining joint venture in India as a contractual arrangement where two or more persons undertake an economic activity under joint control and where one or more participants, partners or equity holders are non residents with a substantial interest in the arrangement.
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