https://www.taxtmi.com/caselaws?id=35387 The High Court dismissed the appeal by the revenue challenging the disallowance under Section 40A(2)(b) of the Income-tax Act, 1961. The court upheld the decision of the Tribunal, ruling in favor of the assessee, stating that the payments made by the joint venture to its partners were not excessive. The court found that the joint venture was formed solely for obtaining works, and the partners directly executed the projects without involvement from the joint venture. The remuneration to the partners was considered fair based on the services rendered, leading to the dismissal of the appeal. en-us Thu, 11 Feb 2010 00:00:00 +0530 Thu, 05 May 2016 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35387 The High Court dismissed the appeal by the revenue challenging the disallowance under Section 40A(2)(b) of the Income-tax Act, 1961. The court upheld the decision of the Tribunal, ruling in favor of the assessee, stating that the payments made by the joint venture to its partners were not excessive. The court found that the joint venture was formed solely for obtaining works, and the partners directly executed the projects without involvement from the joint venture. The remuneration to the partners was considered fair based on the services rendered, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 11 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35387