{"id":16267,"date":"2021-04-03T14:39:19","date_gmt":"2021-04-03T09:09:19","guid":{"rendered":"https:\/\/itatonline.org\/digest\/r-pratap-v-cit-2020-183-itd-750-195-dtr-217-208-ttj-24-cochintrib\/"},"modified":"2021-06-26T13:09:01","modified_gmt":"2021-06-26T07:39:01","slug":"r-pratap-v-cit-2020-183-itd-750-195-dtr-217-208-ttj-24-cochintrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/r-pratap-v-cit-2020-183-itd-750-195-dtr-217-208-ttj-24-cochintrib\/","title":{"rendered":"R. Pratap v. CIT (2020) 183 ITD 750\/195 DTR 217\/208 TTJ 24 (Cochin)(Trib.)\/R. Prakash v. CIT   (2020)  183 ITD 750\/195 DTR 217\/208 TTJ 24  (Cochin)   (Trib.)\/Ramesh Chandran Nair v ACIT  CIT   (2020)  183 ITD 750\/195 DTR 217\/208 TTJ 24  (Cochin)   (Trib.)  T.C .Usha v  ACIT  CIT   (2020)  183 ITD 750\/195 DTR 217\/208 TTJ 24  (Cochin)   (Trib.) Vijaylaxmi Cashew Co v. ACIT  CIT   (2020)  183 ITD 750\/195 DTR 217\/208 TTJ 24  (Cochin)   (Trib.)"},"content":{"rendered":"<p>Assessee sold cashew kernels to its sister concerns. The Assessing Officer disallowed loss claimed by assessee on sale of cashew kernels.\u00a0 Tribunal held that price charged by assessees from its sister concerns was in conformity with normal commercial practice whereby assessees got huge orders in large quantities with timely recovery of debts.\u00a0 Documentary evidences in form of purchase invoice, sale invoice, various bills and vouchers were not found defective by Assessing Officer, on facts, therefore, impugned disallowance of loss incurred by assessee by Assessing Officer was to unjustified. (AY.\u00a0 2008-09 to 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 28(i) : Business loss-Sale of cashew to sister concerns-Conformity with normal commercial practice-Allowable as business loss. [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-16267","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4en","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16267","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=16267"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16267\/revisions"}],"predecessor-version":[{"id":19658,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16267\/revisions\/19658"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=16267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=16267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=16267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}