2010 (2) TMI 21

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....N'BLE MR JUSTICE BADAR DURREZ AHMED HON'BLE MR JUSTICE SIDDHARTH MRIDUL  1. Whether Reporters of local papers may be allowed to see the judgment?   2. To be referred to the Reporter or not?    3. Whether the judgment should be reported in Digest?  BADAR DURREZ AHMED, J (ORAL) 1. This appeal by the revenue is directed against the order dated 06.0....

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.... partners themselves and that the works would be equally distributed between the partners. 2. During the year in question, the assessee received the contracts from the National Highways Authority of India amounting to Rs.1,24,75,88,242/-.  The assessee had, as per the joint venture agreement, sub-contracted the works to the joint venture partners, namely, Oriental Structural Engineers Pvt.....

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....nbsp; The said deletion was confirmed by the Income-tax Appellate Tribunal by virtue of the impugned order.  The Tribunal returned a clear finding of fact indicating that the payments made by the joint venture / assessee to its partners was not excessive and, therefore, Section 40A(2) of the said Act would not come into play.  The Tribunal held as a fact that the arrangement between the ....

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....e was not excessive having regard to the fair market value of the services rendered by them. 4. In any event, no interference with the impugned order is called for inasmuch as the same does not raise any question of law and the findings are those of fact alone.  A decision of this court in the case of Commissioner of Income-tax v. Dr. R.N. Goel: 2008 (X) AD (Delhi) 545 was also referred to....