{"id":29708,"date":"2022-09-09T14:52:31","date_gmt":"2022-09-09T09:22:31","guid":{"rendered":"https:\/\/itatonline.org\/digest\/niagara-financial-consultants-pvt-ltd-v-pcit-2022-94-itr-24-sn-mum-trib\/"},"modified":"2022-09-09T14:52:31","modified_gmt":"2022-09-09T09:22:31","slug":"niagara-financial-consultants-pvt-ltd-v-pcit-2022-94-itr-24-sn-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/niagara-financial-consultants-pvt-ltd-v-pcit-2022-94-itr-24-sn-mum-trib\/","title":{"rendered":"Niagara Financial Consultants Pvt. Ltd. v. PCIT (2022) 94 ITR 24 (SN) (Mum.)(Trib.)"},"content":{"rendered":"<p>Held that after examination, the Assessing Officer had disallowed the interest expenses to the tune of Rs.7,92,27,335\/-. Once the Assessing Officer had examined the issue and had taken a possible view, the assessment was not liable to be reviewed. Revisional powers could not be invoked for the assumption of lack of inquiry.(AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner-Revision of orders prejudicial to revenue-Interest on borrowed capital-Loans utilised for purchase of properties and assets-Revision is held to be not valid. [S. 36(1)(iii)] <\/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-29708","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7Ja","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29708","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=29708"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29708\/revisions"}],"predecessor-version":[{"id":29709,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29708\/revisions\/29709"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}