https://www.taxtmi.com/caselaws?id=351921 The Tribunal ruled in favor of the Association of Persons (AOP) in a case involving disallowance under section 40(a)(ia) and estimation of profit under section 40(ba) of the IT Act. The Tribunal held that the AOP was not required to deduct TDS on payments to its members as they were not subcontractors. Additionally, it was found that no profit was generated by the AOP, leading to the inapplicability of section 40(ba). The Tribunal emphasized that payments made for work execution should not be taxed twice, supporting the one-time taxation principle. en-us Wed, 29 Nov 2017 00:00:00 +0530 Tue, 05 Dec 2017 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351921 The Tribunal ruled in favor of the Association of Persons (AOP) in a case involving disallowance under section 40(a)(ia) and estimation of profit under section 40(ba) of the IT Act. The Tribunal held that the AOP was not required to deduct TDS on payments to its members as they were not subcontractors. Additionally, it was found that no profit was generated by the AOP, leading to the inapplicability of section 40(ba). The Tribunal emphasized that payments made for work execution should not be taxed twice, supporting the one-time taxation principle. Case-Laws Income Tax Wed, 29 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351921