{"id":23824,"date":"2022-01-11T12:38:56","date_gmt":"2022-01-11T07:08:56","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-ashish-indur-chowdhry-2021-190-itd-435-mum-trib\/"},"modified":"2022-01-11T12:38:56","modified_gmt":"2022-01-11T07:08:56","slug":"acit-v-ashish-indur-chowdhry-2021-190-itd-435-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-ashish-indur-chowdhry-2021-190-itd-435-mum-trib\/","title":{"rendered":"ACIT v. Ashish Indur Chowdhry (2021) 190 ITD 435 (Mum.)(Trib.)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Tribunal held that the amount received as advance for sale of property was a capital receipt and it could not be construed as a trading liability. Since the liability continued to remain in balance sheet of assessee, it could not be treated as cessation of liability. (AY. 2015-16))<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Advance against sale of property-Continued to remained as liability in the balance sheet-Addition cannot be made as cessation of liability. <\/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-23824","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6cg","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23824","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=23824"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23824\/revisions"}],"predecessor-version":[{"id":23825,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23824\/revisions\/23825"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}