{"id":13740,"date":"2020-11-14T14:17:51","date_gmt":"2020-11-14T14:17:51","guid":{"rendered":"https:\/\/itatonline.org\/digest\/k-srikanth-v-acit-2020-80-itr-272-206-ttj-273-chennai-trib-2\/"},"modified":"2021-06-26T10:41:47","modified_gmt":"2021-06-26T05:11:47","slug":"k-srikanth-v-acit-2020-80-itr-272-206-ttj-273-chennai-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/k-srikanth-v-acit-2020-80-itr-272-206-ttj-273-chennai-trib-2\/","title":{"rendered":"K. Srikanth v .ACIT (2020) 80 ITR 272 \/  195 DTR 17\/206 TTJ 273 ( Chennai ) (Trib)"},"content":{"rendered":"<p>Tribunal held that the assessee was not entitled to deduction from taxable income of the amount paid to the bank to discharge the liability of the company. Further, the payments made to the bank by the assessee to the tune of Rs. 4.25 crores was merely an application of income.<\/p>\n<p>Held also, that if the period of the first national lock-down from March 25, 2020 to April 19, 2020, when offices were not allowed to be physically opened, was excluded the period within which this order was pronounced was within 90 days.( AY.2001-02)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax \u2013 Application of income &#8211; Sale consideration received for sale of  shares \u2014 Taxable  as income [ S. 28(i),  37(1) , 60 , 61 , 62 , 63 , 64  ] <\/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-13740","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3zC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13740","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=13740"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13740\/revisions"}],"predecessor-version":[{"id":19642,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13740\/revisions\/19642"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}