{"id":11334,"date":"2020-05-14T07:10:42","date_gmt":"2020-05-14T07:10:42","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-gigabyte-technology-india-ltd-2020-421-itr-21-bomhc\/"},"modified":"2021-06-05T10:17:51","modified_gmt":"2021-06-05T04:47:51","slug":"cit-v-gigabyte-technology-india-ltd-2020-421-itr-21-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-gigabyte-technology-india-ltd-2020-421-itr-21-bomhc\/","title":{"rendered":"CIT v. Gigabyte Technology (India) Ltd. (2020) 421 ITR 21 \/195 DTR 334\/ 273 Taxman 184 (Bom)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that the obsolete stock which was not disposed of or sold was allowable as expenditure. Order of Tribunal is affirmed.<\/p>\n<p> Followed CIT v Heredilla Chemicals Ltd (2002 ) 255 ITR 532 (Bom) (HC)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.28(i) :Business loss &#8211; Business expenditure \u2014 Obsolescence allowance \u2014  Write of off obsolete stock \u2013 Allowable as business loss .[ S. 37(1) 145A]<\/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_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":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-11334","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2WO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11334","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=11334"}],"version-history":[{"count":4,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11334\/revisions"}],"predecessor-version":[{"id":18926,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11334\/revisions\/18926"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=11334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=11334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=11334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}