{"id":20524,"date":"2021-07-22T11:42:48","date_gmt":"2021-07-22T06:12:48","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-alcon-developers-2021-432-itr-277-bom-hc\/"},"modified":"2024-12-27T12:16:28","modified_gmt":"2024-12-27T06:46:28","slug":"pcit-v-alcon-developers-2021-432-itr-277-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-alcon-developers-2021-432-itr-277-bom-hc\/","title":{"rendered":"PCIT v. Alcon Developers (2021) 432 ITR 277\/128 taxmann.com 371    (Bom.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that Loss under the head Profits and gains of business or profession can be carried forward and set off against profits of any business or profession. It is not the requirement of section\u00a072\u00a0of the\u00a0Income-tax Act, 1961\u00a0that such gains or profits must be taxable under the head \u201cProfits and gains of business or profession. (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 72 : Carry forward and set off  of business losses-Can be set off against capital gains. [S. 45] <\/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-20524","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5l2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20524","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=20524"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20524\/revisions"}],"predecessor-version":[{"id":49157,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20524\/revisions\/49157"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=20524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=20524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=20524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}