{"id":13651,"date":"2020-11-02T14:23:29","date_gmt":"2020-11-02T14:23:29","guid":{"rendered":"https:\/\/itatonline.org\/digest\/electro-urban-co-operative-credit-society-ltd-v-pcit-202081-itr-17-sn-kol-trib\/"},"modified":"2020-11-02T14:23:29","modified_gmt":"2020-11-02T14:23:29","slug":"electro-urban-co-operative-credit-society-ltd-v-pcit-202081-itr-17-sn-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/electro-urban-co-operative-credit-society-ltd-v-pcit-202081-itr-17-sn-kol-trib\/","title":{"rendered":"Electro Urban Co-Operative Credit Society Ltd. v PCIT (2020)81 ITR 17 (SN) ( Kol) ) (Trib)"},"content":{"rendered":"<p>The Tribunal held that the Assessing Officer had examined the very issue and assessed the assessee\u2019s income from the holiday homes under the business head rather than as claimed, as income from other sources. The Assessing Officer had not only carried out necessary enquiries but had changed the head of its income from \u201cother sources\u201d to business. Whether it was income from house property as per the Principal Commissioner, or business income going by the Assessing Officer in assessment and the residuary head of \u201cother\u201d sources in its computation, was purely a debatable issue. It could not be held that the Assessing Officer\u2019s action was erroneous and causing prejudice to interests of the revenue.( AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner &#8211; Revision of orders prejudicial to revenue -Income from holiday home- Income from business or Income from other sources \u2013 Income from house  property \u2013 Revision is held to be not valid [ S. 22, 28(i) , 56 ] <\/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-13651","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3yb","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13651","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=13651"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13651\/revisions"}],"predecessor-version":[{"id":13652,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13651\/revisions\/13652"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}