{"id":23585,"date":"2022-01-09T09:34:00","date_gmt":"2022-01-09T04:04:00","guid":{"rendered":"https:\/\/itatonline.org\/digest\/orchid-chemicals-pharmacauticals-ltd-v-dy-cit-2021-282-taxman-257-mad-hc\/"},"modified":"2022-01-09T09:34:00","modified_gmt":"2022-01-09T04:04:00","slug":"orchid-chemicals-pharmacauticals-ltd-v-dy-cit-2021-282-taxman-257-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/orchid-chemicals-pharmacauticals-ltd-v-dy-cit-2021-282-taxman-257-mad-hc\/","title":{"rendered":"Orchid Chemicals &#038; Pharmacauticals Ltd. v. Dy.CIT (2021) 282 Taxman 257 (Mad.)(HC)"},"content":{"rendered":"<p>Notice under section 148 was issued on the basis of survey that the\u00a0 assessee has claimed higher deduction. Dismissing the petition the Court held that\u00a0 if accounts were castled to distort income to show higher profit from EOU operation to claim deduction under section 10B, revenue would be justified in reopening assessment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-Export oriented undertakings-Survey-Claimed higher profit-Reassessment notice was held to be justified. [S. 10B, 133A, 148, Art, 226] <\/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-23585","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-68p","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23585","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=23585"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23585\/revisions"}],"predecessor-version":[{"id":23586,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23585\/revisions\/23586"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}