{"id":10461,"date":"2020-03-16T02:19:18","date_gmt":"2020-03-16T02:19:18","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-chetak-enterprises-pvt-ltd-2020-115-taxmann-com-108-sc-www-itatonline-org\/"},"modified":"2021-06-06T09:18:02","modified_gmt":"2021-06-06T03:48:02","slug":"cit-v-chetak-enterprises-pvt-ltd-2020-115-taxmann-com-108-sc-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-chetak-enterprises-pvt-ltd-2020-115-taxmann-com-108-sc-www-itatonline-org\/","title":{"rendered":"CIT v. Chetak Enterprises Pvt. Ltd (2020) 423 ITR 267\/    313 CTR 489\/ 187 DTR  351\/115 taxmann.com 108 \/ 272 Taxman 509(SC) ,www.itatonline.org"},"content":{"rendered":"<p><strong>Dismissing the appeal of the revenue the Court held that\u00a0\u00a0 As per S. 575 of the Companies Act, the conversion of a partnership firm into a company under Part IX causes a statutory vesting of all assets of the firm into the company without the need for a conveyance. The business of the firm is carried on by the company and the latter is eligible for the benefits of S. 80IA (4) of the Act . Order in\u00a0 <\/strong>Chetak Enterpeises\u00a0 v .ACIT\u00a0 ( 2005) 95 ITD 1 (Jodh) (Trib) is approved .\u00a0\u00a0 \u00a0( CA No.\u00a01764\u00a0OF\u00a02010, dt. 05.03.2020) \u00a0(AY. 2002 -03)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80IA :Industrial undertakings \u2013 Conversion of a partnership firm into a company- Part IX of Companies Act-  As per S. 575 of the Companies Act, the conversion of a partnership firm into a company under Part IX causes a statutory vesting of all assets of the firm into the company without the need for a conveyance-The business of the firm is carried on by the company and the latter is eligible for the benefits of S. 80IA (4)  of the Act . [ S.80IA(4) , Companies Act , S.575 ]<\/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-10461","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2IJ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10461","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=10461"}],"version-history":[{"count":4,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10461\/revisions"}],"predecessor-version":[{"id":18950,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10461\/revisions\/18950"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}