{"id":14152,"date":"2020-12-06T06:19:49","date_gmt":"2020-12-06T06:19:49","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-mbl-infrastructure-ltd-202078-itr-156-kol-trib\/"},"modified":"2020-12-06T06:19:49","modified_gmt":"2020-12-06T06:19:49","slug":"dy-cit-v-mbl-infrastructure-ltd-202078-itr-156-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-mbl-infrastructure-ltd-202078-itr-156-kol-trib\/","title":{"rendered":"Dy. CIT v. MBL Infrastructure Ltd. (2020)78 ITR 156 (Kol) (Trib)"},"content":{"rendered":"<p>Tribunal held that\u00a0 Section\u00a035D\u00a0provides for amortisation of capital expenditure relating to specified items which have been incurred \u201cbefore the commencement of business\u201d or \u201cafter the commencement of his business, in connection with the extension of its undertaking or in connection with his setting up a new industrial unit\u201d provided in sub-section (2)(i) and (ii) of section 35D respectively. The purpose of the assessee\u2019s capital raised was investment in capital equipment, working capital requirement, general corporate purposes and issue expenses. The assessee\u2019s case fell under section\u00a035D(2)(ii)\u00a0since the expenditure was in connection with the extension of its undertaking. The findings of the Commissioner (Appeals) deleting the section\u00a035D\u00a0disallowance of Rs. 120 crores in both these assessment years were to be upheld. ( AY.2010-11, 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 35D : Amortisation of preliminary expenses &#8211; Capital raised for investment in capital equipment, working capital requirement, general corporate purposes &#8211; Expenses for extension of undertaking \u2014 Allowable. [ S. 35D(2)(c)(iv)]    <\/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-14152","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Gg","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14152","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=14152"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14152\/revisions"}],"predecessor-version":[{"id":14153,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14152\/revisions\/14153"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}