Their might be scenarios in your iPhone app development career when you would require the need to remove the provisioning profile from the iTunes.
Given below are the steps that are required to remove the provisioning profile from the iTunes.
Step 1: Open Finder and select the Places menu and from the places menu select the Home user the one with the home logo.
Step 2: Now select the library folder this folder contains one sub folder with the name Mobile Device.
Step 3: Go inside the Mobile Device folder and inside that folder you will find a folder with the name provisioning profile which would contain the list of provisioning profile that are present in the itunes, remove the selected profile or all of them as per your need and you are done.
The entire view looks like this
I hope that this method would be useful to you some how in the future, until then happy iCoding and have a great Day.