{"id":32118,"date":"2023-01-27T14:21:35","date_gmt":"2023-01-27T08:51:35","guid":{"rendered":"https:\/\/itatonline.org\/digest\/steel-and-industrial-forgings-ltd-v-dy-cit-2022-449-itr-164-220-dtr-482-sc-editorial-decision-in-steel-and-industrial-forgings-ltd-v-dy-cit-2009-318-itr-18-kerhc-reversed\/"},"modified":"2024-02-11T17:54:04","modified_gmt":"2024-02-11T12:24:04","slug":"steel-and-industrial-forgings-ltd-v-dy-cit-2022-449-itr-164-220-dtr-482-sc-editorial-decision-in-steel-and-industrial-forgings-ltd-v-dy-cit-2009-318-itr-18-kerhc-reversed","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/steel-and-industrial-forgings-ltd-v-dy-cit-2022-449-itr-164-220-dtr-482-sc-editorial-decision-in-steel-and-industrial-forgings-ltd-v-dy-cit-2009-318-itr-18-kerhc-reversed\/","title":{"rendered":"Steel and Industrial Forgings Ltd. v. Dy. CIT (2022) 449 ITR 164 \/ 220 DTR 482 \/(2023) 291 Taxman 448\/ 331 CTR 94(SC) Editorial: Decision in Steel and Industrial Forgings Ltd. v. Dy. CIT (2009) 318 ITR 18 (Ker)(HC), reversed."},"content":{"rendered":"<p>Assessing Officer levied additional tax under section 143(1A) of the\u00a0Income-tax Act, 1961\u00a0on the amount of loss reduced in the intimation issued under section\u00a0143(1)(a)\u00a0of the Act and the High Court held that if the adjustment made by the Assessing Officer resulted in reduction of loss on account of disallowance of part or full depreciation claimed by the assessee, it would justify levy of additional tax under section\u00a0143(1A), on appeal\u00a0 allowing the appeal the Court held that\u00a0 the additional tax levied on the assessee could not be lawfully recovered and the demand raised by the Department was\u00a0 set aside.(AY.1991-92)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 143(1)(a) : Assessment-Intimation-Prima facie adjustment-Additional tax-Depreciation-Reduction of loss-Leviable only where attempt to evade tax proved-Department was to be set aside [S. 143(IA).    <\/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-32118","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8m2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32118","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=32118"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32118\/revisions"}],"predecessor-version":[{"id":39075,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32118\/revisions\/39075"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=32118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=32118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=32118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}