{"id":12188,"date":"2020-09-11T12:07:48","date_gmt":"2020-09-11T12:07:48","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-rajasthan-co-operative-dairy-federation-ltd-2020423-itr-89-raj-hc\/"},"modified":"2020-09-11T12:07:48","modified_gmt":"2020-09-11T12:07:48","slug":"pcit-v-rajasthan-co-operative-dairy-federation-ltd-2020423-itr-89-raj-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-rajasthan-co-operative-dairy-federation-ltd-2020423-itr-89-raj-hc\/","title":{"rendered":"PCIT v .Rajasthan Co-Operative Dairy Federation Ltd. (2020)423 ITR 89 (Raj) (HC)"},"content":{"rendered":"<p>Dismissing the appeal the Court held that\u00a0 the loan utilised by the assessee was for the capital purposes and the loan was given by the National Dairy Development Board. The assessee continued to remain liable to repay those amounts. The State instead of fully writing off the amounts had imposed a condition that they would be utilised only for capital or rehabilitation purposes. This was therefore a significant factor, i. e., the writing off was conditional upon use of the amount in the hands of the assessee which was for the purpose of capital. ( AY.2004-05)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 41(1) : Profits chargeable to tax &#8211; Remission or cessation of trading liability \u2013 Commission claimed as  expenditure \u2013 Write  off of loan- cannot be treated as revenue receipts .<\/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-12188","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3aA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12188","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=12188"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12188\/revisions"}],"predecessor-version":[{"id":12189,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12188\/revisions\/12189"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}