{"id":2370,"date":"2018-09-14T12:07:23","date_gmt":"2018-09-14T12:07:23","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-ambo-agro-products-p-ltd-2018-257-taxman-156-cal-hc-editorial-order-in-cit-v-ambo-agro-products-p-ltd-2014-165-ttj-620-kol-trib-is-affirmed\/"},"modified":"2018-09-14T12:07:23","modified_gmt":"2018-09-14T12:07:23","slug":"cit-v-ambo-agro-products-p-ltd-2018-257-taxman-156-cal-hc-editorial-order-in-cit-v-ambo-agro-products-p-ltd-2014-165-ttj-620-kol-trib-is-affirmed","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-ambo-agro-products-p-ltd-2018-257-taxman-156-cal-hc-editorial-order-in-cit-v-ambo-agro-products-p-ltd-2014-165-ttj-620-kol-trib-is-affirmed\/","title":{"rendered":"CIT   v. Ambo Agro Products (P.) Ltd. (2018) 257 Taxman 156 (Cal)( HC) Editorial: Order in  CIT   v. Ambo Agro Products (P.) Ltd ( 2014) 165 TTJ 620 ( Kol.) (Trib ) is affirmed  ."},"content":{"rendered":"<p>Tribunal held that when a party in breach accepts claim for damages, what actually happens is disposal of a dispute and not any settlement of kind that is envisaged by word &#8216;settled&#8217; used in S. 43(5). Accordingly damages paid cannot be disallowed as speculative loss. Loss is allowable as business loss. (AY.2009 -10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43(5) : Speculative transaction -Damages \u2013 Not honouring the commitment to take delivery consequent upon price of palm oil declining- Damages paid cannot be disallowed as speculative loss -Allowable as business loss .[ S.28(i) ]<\/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-2370","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Ce","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2370","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=2370"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2370\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}