https://www.taxtmi.com/caselaws?id=181505 The Court held that no income from contract receipts is assessable in the hands of the Joint Venture for the assessment year 2005-06. The addition made by the Assessing Officer was deleted. The Tribunal ruled that provisions of section 40A(2) and section 145 of the Income Tax Act were not applicable to the payments made by the JV to its members. The Tribunal upheld the CIT(A)'s decision, partly allowing the appeal and sustaining an addition of Rs. 9,94,877 in the hands of the assessee. en-us Wed, 11 Apr 2012 00:00:00 +0530 Tue, 19 Apr 2016 11:40:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181505 The Court held that no income from contract receipts is assessable in the hands of the Joint Venture for the assessment year 2005-06. The addition made by the Assessing Officer was deleted. The Tribunal ruled that provisions of section 40A(2) and section 145 of the Income Tax Act were not applicable to the payments made by the JV to its members. The Tribunal upheld the CIT(A)'s decision, partly allowing the appeal and sustaining an addition of Rs. 9,94,877 in the hands of the assessee. Case-Laws Income Tax Wed, 11 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181505