{"id":11610,"date":"2020-05-25T14:21:12","date_gmt":"2020-05-25T14:21:12","guid":{"rendered":"http:\/\/itatonline.org\/digest\/baby-memorial-hospital-ltd-v-acit-2019-184-dtr-361-202-ttj-913-202077-itr-484-cochin-trib\/"},"modified":"2020-05-25T14:21:12","modified_gmt":"2020-05-25T14:21:12","slug":"baby-memorial-hospital-ltd-v-acit-2019-184-dtr-361-202-ttj-913-202077-itr-484-cochin-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/baby-memorial-hospital-ltd-v-acit-2019-184-dtr-361-202-ttj-913-202077-itr-484-cochin-trib\/","title":{"rendered":"Baby Memorial Hospital Ltd. v. ACIT ( 2019) 184 DTR 361\/ 202 TTJ 913 \/ (2020)77 ITR 484 ( Cochin) (Trib)"},"content":{"rendered":"<p>Tribunal held that even in a case of limited scrutiny assessment, the AO is duty bound to make a prima facie enquiry as to whether there is any other item which requires examination. \u00a0Revision is held to be valid . \u00a0As regards foreign exchange flautuation loss\u00a0\u00a0 is concerned <em>\u00a0<\/em>there was no potential escapement of income on the issue relating to allowability of foreign exchange loan taken for the construction of new building and additional equipment hence allowable as revenue expenditure <em>.(<\/em> AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner &#8211; Revision of orders prejudicial to revenue \u2013 Limited scrutiny \u2013 AO is bound to make prima facie enquiry \u2013 Revision is held to be valid \u2013  Capital or revenue &#8211; On merit  foreign exchange loss  for acquiring capital asset is held to be allowable as revenue expenditure  [ S. 43 (1),  143(1) ]<\/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-11610","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-31g","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11610","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=11610"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11610\/revisions"}],"predecessor-version":[{"id":11611,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11610\/revisions\/11611"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=11610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=11610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=11610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}