{"id":26049,"date":"2022-03-27T11:22:18","date_gmt":"2022-03-27T05:52:18","guid":{"rendered":"https:\/\/itatonline.org\/digest\/asit-c-mehta-investment-intermediates-p-ltd-v-dy-cit-2021-90-itr-7-sn-mum-trib\/"},"modified":"2022-03-27T11:22:18","modified_gmt":"2022-03-27T05:52:18","slug":"asit-c-mehta-investment-intermediates-p-ltd-v-dy-cit-2021-90-itr-7-sn-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/asit-c-mehta-investment-intermediates-p-ltd-v-dy-cit-2021-90-itr-7-sn-mum-trib\/","title":{"rendered":"ASIT C. Mehta Investment Intermediates P. Ltd. v. Dy. CIT (2021) 90 ITR 7 (SN) (Mum.)(Trib.)"},"content":{"rendered":"<p>Held that\u00a0 the assessee had made full disclosure in the return of income while computing the book profits under section\u00a0115JB\u00a0of the Act. The manner of computation may not be in accord with the view of the Assessing Officer, but that would not attract penalty provisions under section\u00a0271(1)(c). No penalty could have been levied on such disallowance or addition. (AY.\u00a0 2004-05)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271(1)(c) : Penalty-Concealment-Set off  of  unabsorbed depreciation and business losses-Making full disclosure-Penalty not sustainable. [S. 115JB] <\/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-26049","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6M9","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26049","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=26049"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26049\/revisions"}],"predecessor-version":[{"id":26050,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26049\/revisions\/26050"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=26049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=26049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=26049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}