{"id":35899,"date":"2023-08-27T18:57:25","date_gmt":"2023-08-27T13:27:25","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-atlas-copco-india-ltd-no-1-2022-96-itr-520-punetrib-dy-cit-v-atlas-copco-india-ltd-no-2-2022-96-itr-566-punetrib-2\/"},"modified":"2023-08-27T18:57:25","modified_gmt":"2023-08-27T13:27:25","slug":"dy-cit-v-atlas-copco-india-ltd-no-1-2022-96-itr-520-punetrib-dy-cit-v-atlas-copco-india-ltd-no-2-2022-96-itr-566-punetrib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-atlas-copco-india-ltd-no-1-2022-96-itr-520-punetrib-dy-cit-v-atlas-copco-india-ltd-no-2-2022-96-itr-566-punetrib-2\/","title":{"rendered":"Dy. CIT v. Atlas Copco (India) Ltd (No.1) (2022) 96 ITR 520 (Pune)(Trib) Dy. CIT v. Atlas Copco (India) Ltd (No.2) (2022) 96 ITR 566 (Pune)(Trib)"},"content":{"rendered":"<p>Held that the expenditure incurred on rented premises cannot be treated as revenue in view of the plain provisions of Explanation 1 to Sec.32 of the Act. The ld.CIT(A) is in total ignorance of the provisions of Explanation 1 of Sec.32 of the Act held it to be revenue in nature. The decision relied upon by the learned counsel has no application after insertion of Explanation 1 of Sec.32 of the Act.\u00a0 Accordingly the\u00a0 order of ld.CIT(A) reversed\u00a0 and order of the Assessing Officer is affirmed. (AY. 2010-11, 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Capital or revenue-Expenditure on rented premises-Not allowable as revenue expenditure. [S. 32] <\/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-35899","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9l1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35899","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=35899"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35899\/revisions"}],"predecessor-version":[{"id":35900,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35899\/revisions\/35900"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=35899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=35899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}