{"id":13607,"date":"2020-11-02T13:25:05","date_gmt":"2020-11-02T13:25:05","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-chhotabhai-jethabhai-patel-and-co-2020-81-itr-5-sn-ahd-trib\/"},"modified":"2020-11-02T13:25:05","modified_gmt":"2020-11-02T13:25:05","slug":"dy-cit-v-chhotabhai-jethabhai-patel-and-co-2020-81-itr-5-sn-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-chhotabhai-jethabhai-patel-and-co-2020-81-itr-5-sn-ahd-trib\/","title":{"rendered":"Dy. CIT v. Chhotabhai Jethabhai Patel and Co. (2020) 81 ITR 5 (SN) (Ahd) (Trib)"},"content":{"rendered":"<p>The Tribunal held that\u00a0 the assessee is not required to\u00a0 notionally reduce losses arising from eligible business in earlier years already set off against other business of\u00a0 assessee in terms of\u00a0 sections 70 , 71 and\u00a0 72\u00a0prior to exercise of\u00a0 option of\u00a0 initial assessment year. Losses arising in eligible business subsequent to earmarking of\u00a0 initial Assessment year to\u00a0 be governed by\u00a0 embargo placed in\u00a0 section\u00a0 80IA(5) of the Act .\u00a0 ( Circular No. 1 of\u00a0 2016 dt. 15-2-2016 ( 2016) 381 ITR(St) 1 )\u00a0 .( AY.2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80IA :Industrial undertakings \u2013 Infrastructure  development-<br \/>\n Generation Of Electricity \u2014  Initial assessment year \u2014  Not required to  notionally reduce losses arising from eligible business in earlier years already set off against other business &#8211; Losses arising in eligible business subsequent to earmarking of  initial Assessment year to  be governed by  embargo placed in  section  80IA(5) of the Act  [ S.70 , 71 ,72 ,80IA(4),80IA(5) ] <\/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":[21],"tags":[],"class_list":["post-13607","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3xt","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13607","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=13607"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13607\/revisions"}],"predecessor-version":[{"id":13608,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13607\/revisions\/13608"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}