The Hon’ble Supreme Court in Gammon India Ltd. v. Commissioner of Customs, Mumbai has held that a Joint Venture itself is a legal entity

Contrary view by  Delhi High court  in Judgment dated 07.03.2023 in OMP (ENF) (COMM.) No. 188 of 2021  :  a Joint Venture is a quasi-partnership where two or more entities jointly undertake a particular transaction or contract for mutual profit.