{"id":31336,"date":"2022-12-16T12:46:26","date_gmt":"2022-12-16T07:16:26","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-smart-value-products-and-services-ltd-2022-448-itr-145-hphc\/"},"modified":"2022-12-16T12:46:26","modified_gmt":"2022-12-16T07:16:26","slug":"pcit-v-smart-value-products-and-services-ltd-2022-448-itr-145-hphc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-smart-value-products-and-services-ltd-2022-448-itr-145-hphc\/","title":{"rendered":"PCIT v. Smart Value Products and Services Ltd. (2022) 448 ITR 145 (HP)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the Revenue the Court held that all the records, i.e., books of account, sales and purchase vouchers had been fully produced by the assessee. In the subsequent assessment years, the Assessing Officer had passed the order under section\u00a0143(3)\u00a0of the Act in respect of the same business activities of the assessee, which gave rise to net profit of 2.53 per cent. and 2.99 per cent.\u00a0 Order of Tribunal is affirmed. (AY. 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 145 : Method of accounting-Rejection of accounts-Estimate should be fair-Local knowledge and circumstances of  assessee should be taken into consideration-Order of Tribunal affirmed. [S. 145(3), 260A] <\/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-31336","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-89q","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31336","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=31336"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31336\/revisions"}],"predecessor-version":[{"id":31337,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/31336\/revisions\/31337"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=31336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=31336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=31336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}