JV Subcontract Payments Exempt from TDS Disallowance Due to Lack of Profit and Loss Claims u/s 40(a)(ia.

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....TDS u/s 194C - addition u/s 40(a)(ia) - assessee JV had assigned the work allotted to its member companies - payments made towards subcontract without deducting tds - there was no Profit and Loss Account in the assessee’s case and there was no claim of any expenditure - there was no question of any disallowance u/s 40(a)(ia)....