https://www.taxtmi.com/caselaws?id=173055 The Authority ruled that the joint venture between Van Oord ACZ, BV (VOACZ) and Hindustan Construction Company Ltd. (HCC) for Breakwater Construction of Ennore Port does not constitute an Association of Persons (AOP) for tax purposes. Each party operates independently without a common business objective, therefore taxed separately. The applicant is to be assessed on its own profits, with ten percent of the contract amount deemed as taxable profit under Section 44BBB. Other specific tax assessment issues were not addressed separately due to the comprehensive ruling on the key issues. en-us Thu, 14 Sep 2000 00:00:00 +0530 Fri, 23 Oct 2015 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173055 The Authority ruled that the joint venture between Van Oord ACZ, BV (VOACZ) and Hindustan Construction Company Ltd. (HCC) for Breakwater Construction of Ennore Port does not constitute an Association of Persons (AOP) for tax purposes. Each party operates independently without a common business objective, therefore taxed separately. The applicant is to be assessed on its own profits, with ten percent of the contract amount deemed as taxable profit under Section 44BBB. Other specific tax assessment issues were not addressed separately due to the comprehensive ruling on the key issues. Case-Laws Income Tax Thu, 14 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173055