{"id":14570,"date":"2020-12-23T10:22:17","date_gmt":"2020-12-23T10:22:17","guid":{"rendered":"https:\/\/itatonline.org\/digest\/rak-construction-project-co-pvt-ltd-v-ito-2020-the-chambers-journal-september-p-113-mum-trib\/"},"modified":"2020-12-23T10:22:17","modified_gmt":"2020-12-23T10:22:17","slug":"rak-construction-project-co-pvt-ltd-v-ito-2020-the-chambers-journal-september-p-113-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/rak-construction-project-co-pvt-ltd-v-ito-2020-the-chambers-journal-september-p-113-mum-trib\/","title":{"rendered":"Rak Construction Project Co Pvt Ltd v.ITO ( 2020) The Chamber\u2019s Journal &#8211; September -P. 113 ( Mum) (Trib)"},"content":{"rendered":"<p>Tribunal held that information received in a subsequent assessment year is a valid reason to reopen an assessment for earlier year when the return was processed u\/s 143(1) of the Act. Tribunal also held that compensation received by the assessee from National Textile corporation Ltd vide a decree passed by the Court of Small Cause at Bombay on 19 th July\u00a0 2007 is taxable under the head house property on the basis of rule of consistency .\u00a0 \u00a0( ITA No. 7584\/Mum\/ 2019 dt .13 -7 -2020 ) (AY. 2010-11)<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.147: Reassessment \u2013 Information received in a subsequent assessment year is a valid reason to reopen an assessment for earlier year \u2013 Compensation taxable as income from house property [ S.22, 143(1)]<\/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-14570","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3N0","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14570","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=14570"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14570\/revisions"}],"predecessor-version":[{"id":14571,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14570\/revisions\/14571"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}