{"id":256,"date":"2018-04-29T12:14:19","date_gmt":"2018-04-29T12:14:19","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-ing-investment-management-india-p-ltd-2018-401-itr-405-bom-hc\/"},"modified":"2018-04-29T12:14:19","modified_gmt":"2018-04-29T12:14:19","slug":"cit-v-ing-investment-management-india-p-ltd-2018-401-itr-405-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-ing-investment-management-india-p-ltd-2018-401-itr-405-bom-hc\/","title":{"rendered":"CIT  v. Ing Investment Management (India) P. Ltd.  (2018) 401 ITR 405 (Bom) (HC)"},"content":{"rendered":"<p>Reading the proviso to regulation 52 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, it is manifest that any excess over the 6 per cent. initial issue expense shall be borne by the asset management company, therefore  expenditure in excess of 6 Per cent. of initial issue expenses of asset management company  was held to be   deductible. Expenditure relating to Information Technology infrastructure  was held to be  allowable .  ( AY. 2006 -07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1):Business expenditure \u2014 Expenditure in excess of 6 Per cent. of initial issue expenses of asset management company  was held to be   deductible. Expenditure relating to Information Technology Infrastructure  was also held to be allowable .  [Securities and Exchange Board of India (Mutual Funds) Regulations, 1996  R. 52 ]<\/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-256","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-48","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/256","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=256"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/256\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}