https://www.taxtmi.com/caselaws?id=195538 Profit shared with a joint venture partner under a written agreement for procurement and sale of land was treated as a genuine commercial arrangement, not a sham or colourable device. The amount was held to be a distribution of profit under the joint venture ratio, rather than expenditure for services. On that basis, no tax deduction at source was required on the profit share, and disallowance under section 40(a)(ia) was unsustainable. The addition was deleted because the record disclosed no defect in the agreement and the disallowance rested only on conjecture. en-us Thu, 13 Aug 2015 00:00:00 +0530 Fri, 03 Nov 2017 10:10:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195538 Profit shared with a joint venture partner under a written agreement for procurement and sale of land was treated as a genuine commercial arrangement, not a sham or colourable device. The amount was held to be a distribution of profit under the joint venture ratio, rather than expenditure for services. On that basis, no tax deduction at source was required on the profit share, and disallowance under section 40(a)(ia) was unsustainable. The addition was deleted because the record disclosed no defect in the agreement and the disallowance rested only on conjecture. Case-Laws Income Tax Thu, 13 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195538