{"id":23390,"date":"2022-01-06T10:26:19","date_gmt":"2022-01-06T04:56:19","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-m-abdul-zahid-2021-437-itr-132-karn-hc-pcit-v-jay-minerals-2021-437-itr-132-karn-hc\/"},"modified":"2022-08-14T21:52:16","modified_gmt":"2022-08-14T16:22:16","slug":"pcit-v-m-abdul-zahid-2021-437-itr-132-karn-hc-pcit-v-jay-minerals-2021-437-itr-132-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-m-abdul-zahid-2021-437-itr-132-karn-hc-pcit-v-jay-minerals-2021-437-itr-132-karn-hc\/","title":{"rendered":"PCIT v. M. Abdul Zahid (2021) 437 ITR 132 \/(2022) 286 Taxman 138 (Karn.) (HC) PCIT v. Jay Minerals (2021) 437 ITR 132 \/ ( 2022) 286 Taxman 138 (Karn.) (HC)"},"content":{"rendered":"<p>Held that\u00a0 the finding of the Assessing Officer that the assessee\u2019s trade and business in iron ore during the relevant period was carried on by him without the permits as required under section\u00a04(1A)\u00a0of the 1957 Act and therefore, such business was being run contrary to law, could not be faulted. The object of Explanation 1 to sub-section\u00a0(1)\u00a0of section\u00a037\u00a0is to discourage the businesses and professions that are tainted with illegality. Therefore, the expenditure incurred for purchasing the iron ore by the assessee could not have been deducted under section\u00a037(1)\u00a0of the 1961 Act. Relied on Maddi Venkataraman and Co. (P.) Ltd. v. CIT\u00a0<a href=\"http:\/\/www.taxlawsonline.com\/%5b1998%5d%20229%20ITR%200534\">[1998] 229 ITR 534<\/a>\u00a0(SC)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Expenditure incurred in violation of statutory provisions-Not allowable as deduction-Explanation 1 [Mines And Minerals (Development And Regulation) Act, 1957, S. 4(1a), 21] <\/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-23390","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-65g","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23390","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=23390"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23390\/revisions"}],"predecessor-version":[{"id":29086,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23390\/revisions\/29086"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}