https://www.taxtmi.com/circulars?id=54326 A consortium for EPC/Turnkey contracts is not to be treated as an AOP if each member independently executes and bears risk for its demarcated scope of work, incurs expenditure only for that scope, earns profits or bears losses based on its performance, retains control of men and materials for its work, and common management is limited to administrative inter-se coordination; sharing of contract price at gross level for billing convenience does not alter this. The circular excludes cases involving Associated Enterprises, where the Assessing Officer will decide on AOP status. en-us Mon, 07 Mar 2016 00:00:00 +0530 Mon, 07 Mar 2016 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=54326 A consortium for EPC/Turnkey contracts is not to be treated as an AOP if each member independently executes and bears risk for its demarcated scope of work, incurs expenditure only for that scope, earns profits or bears losses based on its performance, retains control of men and materials for its work, and common management is limited to administrative inter-se coordination; sharing of contract price at gross level for billing convenience does not alter this. The circular excludes cases involving Associated Enterprises, where the Assessing Officer will decide on AOP status. Circulars Income Tax Mon, 07 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54326