https://www.taxtmi.com/caselaws?id=467012 Where a joint venture is formed solely to secure contracts and constituent members independently perform portions and declare corresponding income, receipts passed through entirely to constituents without retention of profit are not to be treated as subcontracts for withholding purposes; this requires AO verification of bank records and profit retention. Separately, TDS deducted on contract receipts must be allowed as credit to constituent members who offered the income despite TDS certificates being in the JV's name, and direction to reallocate credit to constituents is sustained. en-us Mon, 24 Feb 2025 00:00:00 +0530 Sat, 28 Feb 2026 12:14:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467012 Where a joint venture is formed solely to secure contracts and constituent members independently perform portions and declare corresponding income, receipts passed through entirely to constituents without retention of profit are not to be treated as subcontracts for withholding purposes; this requires AO verification of bank records and profit retention. Separately, TDS deducted on contract receipts must be allowed as credit to constituent members who offered the income despite TDS certificates being in the JV's name, and direction to reallocate credit to constituents is sustained. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467012