{"id":20002,"date":"2021-07-07T12:31:32","date_gmt":"2021-07-07T07:01:32","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-maithon-power-ltd-2021-124-taxmann-com-204-delhihc-editorial-slp-of-revenue-is-dismissed-pcit-v-maithon-power-ltd-2021-277-taxman-406-sc\/"},"modified":"2021-07-07T12:31:32","modified_gmt":"2021-07-07T07:01:32","slug":"pcit-v-maithon-power-ltd-2021-124-taxmann-com-204-delhihc-editorial-slp-of-revenue-is-dismissed-pcit-v-maithon-power-ltd-2021-277-taxman-406-sc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-maithon-power-ltd-2021-124-taxmann-com-204-delhihc-editorial-slp-of-revenue-is-dismissed-pcit-v-maithon-power-ltd-2021-277-taxman-406-sc\/","title":{"rendered":"PCIT v. Maithon Power Ltd. (2021) 124 taxmann.com 204 (Delhi)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Maithon Power Ltd. (2021) 277 Taxman 406 (SC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the revenue the Court held that\u00a0\u00a0 as the\u00a0 project was not in operation during said year and it lodged a claim for refund of excise duty with Director General of Foreign Trade as deemed export benefits, since amount of excise duty related to cost of acquisition of capital assets\/project, refund of excise duty would ultimately reduce cost of project and could not\u00a0 be treated as business income. \u00a0(AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 28(iiic) : Business income-Duty Customs or Excise repaid-Capital asset-Project was not in operation Reduce cost of project-Cannot be assessed as income. [S. 4, 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-20002","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5cC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20002","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=20002"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20002\/revisions"}],"predecessor-version":[{"id":20003,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20002\/revisions\/20003"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=20002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=20002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=20002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}