Tuesday, 16 June 2015

JV wasn't taxable as AOP as it was only formed to secure contract and entire work was split up betwe

IT : Where JV was formed only to secure contract, in terms of which scope of each JV partner's task was distinctly outlined and further, entire work was split between two JV partners and they completed task, through sub-contractors, JV was not an association of persons and liable to be taxed on that basis

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