{"id":1942,"date":"2018-08-07T00:56:25","date_gmt":"2018-08-07T00:56:25","guid":{"rendered":"http:\/\/itatonline.org\/digest\/itt-shipping-p-ltd-v-cit-2018-65-itr-45-sn-kol-trib\/"},"modified":"2018-08-07T00:56:25","modified_gmt":"2018-08-07T00:56:25","slug":"itt-shipping-p-ltd-v-cit-2018-65-itr-45-sn-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/itt-shipping-p-ltd-v-cit-2018-65-itr-45-sn-kol-trib\/","title":{"rendered":"ITT Shipping P. Ltd.  v. CIT (2018) 65 ITR  45 (SN) (Kol) (Trib)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that <strong>,<\/strong>assessee \u00a0is not dealer in foreign exchange and as part of its normal business activity. Assessing Officer considering explanation given and case law cited by assessee accepting as business loss .Loss \u00a0being normal business loss and not speculative loss , revision treating loss as speculative loss\u00a0 is not valid. <strong>\u00a0\u00a0<\/strong>( AY.2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner &#8211; Revision of orders prejudicial to revenue -Loss in forward contract \u2014 Revision treating loss as speculative loss  is not valid [ S.43(5) ]<\/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-1942","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-vk","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1942","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=1942"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1942\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=1942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=1942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=1942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}