{"id":1775,"date":"2018-07-21T03:55:03","date_gmt":"2018-07-21T03:55:03","guid":{"rendered":"http:\/\/itatonline.org\/digest\/dcit-v-anil-dhirajlal-ambani-2018-171-itd-144-mum-trib\/"},"modified":"2019-04-20T14:04:25","modified_gmt":"2019-04-20T14:04:25","slug":"dcit-v-anil-dhirajlal-ambani-2018-171-itd-144-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dcit-v-anil-dhirajlal-ambani-2018-171-itd-144-mum-trib\/","title":{"rendered":"DCIT  v. Anil Dhirajlal Ambani. (2018) 171 ITD 144\/ 66 ITR 607 \/ 172 DTR 17\/ 195 TTJ 867 (Mum)  (Trib.)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Tribunal held that ;payment to SEBI without admitting or denying guilt and was paid just to settle dispute, said settlement charges\/consent fee could not be equated with penalty for violation of law under Explanation 1 to\u00a0 S. 37(1) of the Act\u00a0 and is allowable as business expenditure. Referred ITO v. Reliance Shares &amp; Stock Brokers (P.) Ltd. (2015) 67 SOT 73 (Mum ) (Trib.). \u00a0( AY.2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.37(1):Business expenditure- Settlement charges paid to SEBI without admitting or denying guilt and was paid just to settle dispute, said settlement charges\/consent fee could not be equated with penalty for violation of law under Explanation 1 to  S. 37(1) of the Act  and  is allowable as business expenditure . [Securities and Exchange Board of India Act, 1992 , S.11, 1B and   of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 R.11 ]<\/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":[1],"tags":[],"class_list":["post-1775","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-sD","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1775","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=1775"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1775\/revisions"}],"predecessor-version":[{"id":5009,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1775\/revisions\/5009"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=1775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=1775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=1775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}