{"id":15575,"date":"2021-03-11T14:52:01","date_gmt":"2021-03-11T09:22:01","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-ltu-v-abb-ltd-2020429-itr-355-karn-hc\/"},"modified":"2021-03-11T14:52:01","modified_gmt":"2021-03-11T09:22:01","slug":"cit-ltu-v-abb-ltd-2020429-itr-355-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-ltu-v-abb-ltd-2020429-itr-355-karn-hc\/","title":{"rendered":"CIT (LTU) v. ABB Ltd. (2020)429 ITR 355 (Karn.)(HC)"},"content":{"rendered":"<p>Tribunal was right in holding that the cash compensatory assistance and duty drawback were liable to tax on receipt basis and not on accrual basis. Followed<\/p>\n<p>CIT (LTU) v. Asea Brown Boveri Ltd.\u00a0<a href=\"http:\/\/www.taxlawsonline.com\/%5b2020%5d%20427%20ITR%200166\">(2020)427 ITR 166<\/a>\u00a0(Karn.)(HC). (AY. 1998-99)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 5 : Scope of total income-Accrual of income-Cash compensatory assistance and duty drawback-Tribunal holding that liability to tax is on receipt basis and not on accrual basis.  [S. 4, 80HHC, 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-15575","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-43d","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15575","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=15575"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15575\/revisions"}],"predecessor-version":[{"id":15576,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15575\/revisions\/15576"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}