{"id":302,"date":"2018-04-29T13:53:12","date_gmt":"2018-04-29T13:53:12","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-balkrishna-industries-ltd-2018-252-taxman-375-300-ctr-209-161-dtr-185-sc-editorial-cit-v-sulzer-india-ltd-2014-369-itr-717-2015-229-taxman-264-bom-hc-is-affirmed\/"},"modified":"2018-04-29T13:53:12","modified_gmt":"2018-04-29T13:53:12","slug":"cit-v-balkrishna-industries-ltd-2018-252-taxman-375-300-ctr-209-161-dtr-185-sc-editorial-cit-v-sulzer-india-ltd-2014-369-itr-717-2015-229-taxman-264-bom-hc-is-affirmed","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-balkrishna-industries-ltd-2018-252-taxman-375-300-ctr-209-161-dtr-185-sc-editorial-cit-v-sulzer-india-ltd-2014-369-itr-717-2015-229-taxman-264-bom-hc-is-affirmed\/","title":{"rendered":"CIT v. Balkrishna Industries Ltd. (2018) 252 Taxman 375 \/ 300 CTR 209\/ 161 DTR 185 (SC) Editorial: CIT  v. Sulzer India Ltd ( 2014) 369 ITR 717\/ ( 2015) 229 Taxman 264 ( Bom) (HC) is affirmed."},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that ; Premature payment  in terms of net present value (NPV) of same cannot be assessed as  remission or cessation of  liability   .What assessee was required to pay after 12 years in 6 equal instalments was paid by assessee prematurely in terms of net present value (NPV) of same.  (AY. 2003-04)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 41(1) : Profits chargeable to tax &#8211; Remission or cessation of trading liability \u2013 Deferral  sales tax  Scheme -Premature payment  in terms of net present value (NPV) of same cannot be assessed as  remission or cessation of  liability  [ S.43B ]<\/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-302","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4S","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/302","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=302"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/302\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}