Wednesday, 3 July 2013

Income from joint venture contracts is taxable as ‘business income’ even it assures minimum return t

IT : Where assessee entered into a joint business agreement to do diamond processing business and provided building and infrastructure such as machinery, security systems, canteen and house keeping etc., income received would be treated as business income; merely because such agreement envisaged assured return to assessee would not take away fact that assessee was engaged in business


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