{"id":19884,"date":"2021-07-02T12:49:54","date_gmt":"2021-07-02T07:19:54","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-loop-telcom-ltd-2020-189-dtr-46-205-ttj-27-mum-trib\/"},"modified":"2021-07-02T12:49:54","modified_gmt":"2021-07-02T07:19:54","slug":"acit-v-loop-telcom-ltd-2020-189-dtr-46-205-ttj-27-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-loop-telcom-ltd-2020-189-dtr-46-205-ttj-27-mum-trib\/","title":{"rendered":"ACIT v. Loop Telcom Ltd. (2020) 189 DTR 46 \/ 205 TTJ 27 (Mum.)(Trib.)"},"content":{"rendered":"<p><em>Dismissing the appeal of the revenue the Tribunal held that the\u00a0 Assessee was engaged in business of providing telecom services and losses incurred on account of surrender of NLD license would be in normal course of business .\u00a0 The\u00a0 assessee has not claimed any depreciation on intangible assets in return of income\u00a0 therefore the assessee is eligible to claim write-off as normal business loss considering the . provisions of section 35ABB(2) read with CBDT Circular No. 763 dt.\u00a0 18\/02\/1998.\u00a0 <\/em><em>(AY <\/em><em>. <\/em><em>2011-12)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 28(i) : Business loss \u2013 Losses incurred on surrender of NLD licence \u2013 Allowable as business loss [ S. 35ABB(2) , 37 (1) ] <\/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-19884","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5aI","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19884","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=19884"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19884\/revisions"}],"predecessor-version":[{"id":19885,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19884\/revisions\/19885"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=19884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=19884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=19884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}