{"id":10056,"date":"2020-02-22T09:27:12","date_gmt":"2020-02-22T09:27:12","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-lokhandwala-construction-industries-pvt-ltd-2019-bcaj-december-p-41-bom-hc\/"},"modified":"2020-02-22T09:27:12","modified_gmt":"2020-02-22T09:27:12","slug":"cit-v-lokhandwala-construction-industries-pvt-ltd-2019-bcaj-december-p-41-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-lokhandwala-construction-industries-pvt-ltd-2019-bcaj-december-p-41-bom-hc\/","title":{"rendered":"CIT v. Lokhandwala Construction Industries Pvt. Ltd. (2019) BCAJ-December-P. 41 (Bom.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that, the difference between the assessee and the revenue is merely on account of difference in the year of allowability of claim and in the absence of any doubt with regard to genuineness\u00a0 of\u00a0 the expenses claimed, penal provision cannot be attracted.\u00a0 Accordingly the order of Tribunal is affirmed. (Arising from ITA No. 4403\/M\/ 2013 dt. 29-04-2016) (ITA No.992 of 2017 dt. 17-09-2019 (AY. 2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271(1)(c) : Penalty\u2013Concealment\u2013Method of accounting-Project completion method-Year of allowability of expenses\u2013Mere making the claim  which is not sustainable in law will not amount to furnishing in accurate particulars of income-Penalty cannot be levied. [S. 145]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10056","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2Cc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10056"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10056\/revisions"}],"predecessor-version":[{"id":10057,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10056\/revisions\/10057"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}