{"id":14796,"date":"2021-01-03T14:53:43","date_gmt":"2021-01-03T14:53:43","guid":{"rendered":"https:\/\/itatonline.org\/digest\/jindal-reality-pvt-ltd-v-dy-cit-202082-itr-19-sn-delhi-trib\/"},"modified":"2021-01-03T14:53:43","modified_gmt":"2021-01-03T14:53:43","slug":"jindal-reality-pvt-ltd-v-dy-cit-202082-itr-19-sn-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/jindal-reality-pvt-ltd-v-dy-cit-202082-itr-19-sn-delhi-trib\/","title":{"rendered":"Jindal Reality Pvt. Ltd. v. Dy. CIT (2020)82 ITR 19 (SN) (Delhi) (Trib)"},"content":{"rendered":"<p>Tribunal held that as the business of\u00a0 the assessee had already commenced in the assessment year 2006-07, the interest expenditure and all other expenses both administrative and other expenses were to be allowed as business expenditure. The interest income was to be taxed as business income and the interest expenditure was to be\u00a0\u00a0 set off against the business income. During the year 2007-08, The Assessee had\u00a0 capitalised interest expenditure of\u00a0 Rs. 40.78 Corers. Hence, there was no issue of\u00a0 its allowability.( AY.2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure \u2013 Set up of business \u2013 Interest , administrative and other expenses is held to be allowable as deduction \u2013 Interest income is to be assessed as business income and interest expenditure to be set off  against it.   [ S.28(i) , 56 , 57 ]\t<\/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-14796","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3QE","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14796","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=14796"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14796\/revisions"}],"predecessor-version":[{"id":14797,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14796\/revisions\/14797"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}