{"id":14032,"date":"2020-11-27T02:54:04","date_gmt":"2020-11-27T02:54:04","guid":{"rendered":"https:\/\/itatonline.org\/digest\/mihir-bipin-parekh-v-dy-cit-2020-79-itr-5-sn-mum-trib\/"},"modified":"2020-11-27T02:54:04","modified_gmt":"2020-11-27T02:54:04","slug":"mihir-bipin-parekh-v-dy-cit-2020-79-itr-5-sn-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/mihir-bipin-parekh-v-dy-cit-2020-79-itr-5-sn-mum-trib\/","title":{"rendered":"Mihir Bipin Parekh v. Dy. CIT (2020) 79 ITR 5 ( SN) ( Mum) (Trib)"},"content":{"rendered":"<p>The loss was incurred in the course of business being carried out by the assessee and non-payment of the duty would have resulted in substantial losses for the assessee and damaged the assessee\u2019s reputation in the market. Thus the loss would be allowable to the assessee as a business loss out of commercial expediency.( AY.2006-07, 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.28(i): Business Loss \u2014 Import duty \u2014Non-payment of  duty would have resulted in substantial losses for assessee and damaged reputation in market \u2014 Loss is allowable as  business Loss out of  commercial expediency .[ S.37(i) ] <\/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-14032","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Ek","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14032","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=14032"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14032\/revisions"}],"predecessor-version":[{"id":14033,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14032\/revisions\/14033"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}