https://www.taxtmi.com/highlights?id=72644 Estimation of Profit/Section 40A(2)(b) - JV entered - sub-contracting - AO had formed a view that the assessee JV had suppressed its profit by making excessive payment to TPPL - the section 40A(2)(b) has no application to income aspect of the assessee JV in the facts of the instant case. The AO has not brought any comparable figures to disallow the expenditure, moreover with the structuring of the JV provisions of Section 40A(2)(b) are not attracted in the given facts and circumstances of the instant case. - Additions deleted - AT en-us Thu, 19 Oct 2023 13:43:14 +0530 Thu, 19 Oct 2023 13:43:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72644 Estimation of Profit/Section 40A(2)(b) - JV entered - sub-contracting - AO had formed a view that the assessee JV had suppressed its profit by making excessive payment to TPPL - the section 40A(2)(b) has no application to income aspect of the assessee JV in the facts of the instant case. The AO has not brought any comparable figures to disallow the expenditure, moreover with the structuring of the JV provisions of Section 40A(2)(b) are not attracted in the given facts and circumstances of the instant case. - Additions deleted - AT Highlights Income Tax Thu, 19 Oct 2023 13:43:14 +0530 https://www.taxtmi.com/highlights?id=72644