{"id":15141,"date":"2021-02-02T12:25:17","date_gmt":"2021-02-02T12:25:17","guid":{"rendered":"https:\/\/itatonline.org\/digest\/vedanta-ltd-v-jcit-2021-bcaj-january-p-58-mad-hc\/"},"modified":"2021-02-02T12:25:17","modified_gmt":"2021-02-02T12:25:17","slug":"vedanta-ltd-v-jcit-2021-bcaj-january-p-58-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/vedanta-ltd-v-jcit-2021-bcaj-january-p-58-mad-hc\/","title":{"rendered":"Vedanta Ltd v. JCIT ( 2021 ) BCAJ-January P. 58 ( Mad) (HC)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Court held that,\u00a0 provision made for site restoration is a contingent liability hence\u00a0 allowable as deduction on the principle of commercial expediency. Referred Calcutta Company Ltd v.CIT ( 1959) 37 ITR 1 (SC), Bharat Earth Movers v.CIT ( 2000) 245 ITR 428 (SC), Rotork Controls\u00a0 India ( P) Ltd v. CIT\u00a0 (2009 ) 314 ITR 62\u00a0 ( SC) \u00a0( TCA.No. 2117 to 2019 of 2008 dt 23 \u2013 1-2020) ( AY. 1996 -97 , 1997 -98, 1998 -99)\u00a0<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure \u2013 Provision made for site restoration is a contingent liability \u2013 Allowable as deduction on the principle of commercial expediency .[ S.145 ]<\/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-15141","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Wd","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15141","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=15141"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15141\/revisions"}],"predecessor-version":[{"id":15142,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15141\/revisions\/15142"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}