{"id":2290,"date":"2018-09-09T03:44:30","date_gmt":"2018-09-09T03:44:30","guid":{"rendered":"http:\/\/itatonline.org\/digest\/titagarh-industries-ltd-v-dcit-2018-171-itd-559-kol-trib\/"},"modified":"2018-11-04T08:55:45","modified_gmt":"2018-11-04T08:55:45","slug":"titagarh-industries-ltd-v-dcit-2018-171-itd-559-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/titagarh-industries-ltd-v-dcit-2018-171-itd-559-kol-trib\/","title":{"rendered":"Titagarh Industries Ltd.  v. DCIT (2018) 171 ITD 559\/ 170 ITD 361  (Kol)  (Trib)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that ; \u00a0cost for acquiring capital WIP, it was a valuable &#8216;property&#8217; and, hence, in nature of a &#8216;capital asset&#8217; \u00a0therefore, when assessee sold plant and machinery along with capital WIP, cost incurred on capital WIP was required to be reduced as &#8216;cost of acquisition&#8217; while arriving at taxable amount of capital gain\/loss within meaning of S.50 .Accordingly revisional order was\u00a0 set aside. ( AY.2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner &#8211; Revision of orders prejudicial to revenue &#8211; Sale of  plant and machinery along with capital WIP, cost incurred on capital WIP was required to be reduced as &#8216;cost of acquisition&#8217; while arriving at taxable amount of capital gain-Revision is held to be not valid [ S. 2(14),50, 74  ]<\/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-2290","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-AW","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2290","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=2290"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2290\/revisions"}],"predecessor-version":[{"id":2856,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2290\/revisions\/2856"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}