{"id":29698,"date":"2022-09-09T14:48:12","date_gmt":"2022-09-09T09:18:12","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ambuja-cements-ltd-v-cit-ltu-2022-94-itr-13-sn-217-ttj-498-215-dtr-215-mum-trib\/"},"modified":"2022-09-09T14:48:12","modified_gmt":"2022-09-09T09:18:12","slug":"ambuja-cements-ltd-v-cit-ltu-2022-94-itr-13-sn-217-ttj-498-215-dtr-215-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ambuja-cements-ltd-v-cit-ltu-2022-94-itr-13-sn-217-ttj-498-215-dtr-215-mum-trib\/","title":{"rendered":"Ambuja Cements Ltd. v. CIT (LTU) (2022) 94 ITR 13 (SN) \/ 217 TTJ 498 \/ 215 DTR 215 (Mum.)(Trib.)"},"content":{"rendered":"<p>Held that the additional compensation cost had been rightly debited as expenditure by the assessee in the year of vesting, i. e., AY. 2012-13, in accordance with the Special Bench decision and the Principal Commissioner had invoked revisionary jurisdiction based on incorrect assumption of fact. Revision is not valid.\u00a0\u00a0 As regards book profit\u00a0\u00a0 the interest partook of the character of Income-tax and the Income-tax demand was to be added back while computing book profits under Explanation 1(a) to section 115JB(2). Therefore, the action of the Principal Commissioner in invoking revisional jurisdiction was upheld in this regard. (AY.\u00a0 2012-13, 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner-Revision of orders prejudicial to revenue-Employees\u2019 Stock option scheme expenses-Additional compensation-Revision is not valid-Book profit-Interest-Revision is valid. [S. 37 (1), 115JB(2)] <\/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-29698","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7J0","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29698","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=29698"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29698\/revisions"}],"predecessor-version":[{"id":29699,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29698\/revisions\/29699"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}