{"id":35292,"date":"2023-08-01T16:58:09","date_gmt":"2023-08-01T11:28:09","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-nesco-ltd-2023-291-taxman-286-bomhc\/"},"modified":"2023-08-01T16:58:09","modified_gmt":"2023-08-01T11:28:09","slug":"pcit-v-nesco-ltd-2023-291-taxman-286-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-nesco-ltd-2023-291-taxman-286-bomhc\/","title":{"rendered":"PCIT v. NESCO Ltd. [2023] 291 Taxman 286 (Bom)(HC)"},"content":{"rendered":"<p>Provision for payment of compensation with respect to defected machines sold against which complaints were filed and were pending settlement, compensation claimed as the expense was based on the actual occurrence of financial incidence purely related to business activities same was examined during original scrutiny assessment, reassessment order was to be quashed. (AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment &#8211; With in four years \u2013 No tangible material &#8211; Business expenditure -Compensation- Provision for compensation \u2013 Pending for settlement &#8211; Reassessment is held to be bad in law. [S. 37(1), 145, 148, Art. 226] <\/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-35292","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9be","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35292","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=35292"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35292\/revisions"}],"predecessor-version":[{"id":35293,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35292\/revisions\/35293"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=35292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=35292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}