https://www.taxtmi.com/highlights?id=55162 Activity under the Joint Venture Agreement (JDA) - the activity undertaken by the appellant with its cost equivalence recorded in the books is nothing but capital contribution. The adjudicating authority has erred in concluding that the mechanism of ‘cash call’ prescribed in the ‘joint operations agreement’ is consideration for services; it is intended as the vehicle for contribution by the participating interests to the capital requirements of the venture. As such capital contributions are obligated for the establishment and operation of a business venture, it is not ‘consideration’ for rendering of any taxable service. - AT en-us Thu, 15 Oct 2020 13:01:20 +0530 Thu, 15 Oct 2020 13:01:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55162 Activity under the Joint Venture Agreement (JDA) - the activity undertaken by the appellant with its cost equivalence recorded in the books is nothing but capital contribution. The adjudicating authority has erred in concluding that the mechanism of ‘cash call’ prescribed in the ‘joint operations agreement’ is consideration for services; it is intended as the vehicle for contribution by the participating interests to the capital requirements of the venture. As such capital contributions are obligated for the establishment and operation of a business venture, it is not ‘consideration’ for rendering of any taxable service. - AT Highlights Service Tax Thu, 15 Oct 2020 13:01:20 +0530 https://www.taxtmi.com/highlights?id=55162