No Addition if income from joint venture is not in proportion to share of investment

HIGH COURT OF GUJARAT Commissioner of Income-tax -IV Versus G.K. Patel & Co. Tax Appeal No. 1580 of 2011 November 27, 2012 ORDER Akil Kureshi, J. – Revenue is in appeal against the judgement of the Income Tax Appellate Tribunal dated 9.9.2011. Following questions have been presented for our consideration: “[A] “Whether the Appellate Tribunal is right in law and on facts in deleting the disallowance of Rs. 28,77,867/- made u/s 40A(2)(b) in respect of payment made to G.K. Engg.?” [B] “Whether the Appellate Tribunal is right in law and on facts i...