{"id":3994,"date":"2019-02-19T12:34:07","date_gmt":"2019-02-19T12:34:07","guid":{"rendered":"http:\/\/itatonline.org\/digest\/indiabuild-villas-development-p-ltd-v-dcit-2019-174-itd-497-bang-trib\/"},"modified":"2019-03-31T09:07:48","modified_gmt":"2019-03-31T09:07:48","slug":"indiabuild-villas-development-p-ltd-v-dcit-2019-174-itd-497-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/indiabuild-villas-development-p-ltd-v-dcit-2019-174-itd-497-bang-trib\/","title":{"rendered":"Indiabuild Villas Development (P.) Ltd.  v. DCIT (2018) 196 TTJ 386  \/(2019) 174 ITD 497\/ 175 DTR 226 (Bang.)(Trib.)"},"content":{"rendered":"<p>Tribunal held that assessee being a real estate developer amount spent on\u00a0 advertising and business promotion, corporate brand identity exercise, logo design etc\u00a0 is allowable as deduction as it is not attributable to any particular project . Amount spent on Liaisoning work in relation to a particular project has to be capitalised to concerned project. Tribunal also held that as regards method of accounting is concerned AS-7 or AS 9 or ICAI guidance note on accounting for real estate transactions, 2006\u00a0 cannot be said to be either cash system of accounting or mercantile system of accounting, only up to AY. 2012-13, because S.145 of the Act has undergone some statutory amendments. (AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Real estate developer\u2013Advertising and business promotion-Corporate brand identity exercise, logo design etc  is allowable as deduction as it is not attributable to any particular project -Amount spent on Liaisoning work in relation to a particular project  has to be capitalised to concerned project -Method of accounting\u2013AS-7 or AS 9 or ICAI guidance note on accounting for real estate transactions, 2006  cannot be said to be either cash system of accounting or mercantile system of accounting , only up to AY. 2012-13. [S. 145]<\/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-3994","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-12q","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3994","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=3994"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3994\/revisions"}],"predecessor-version":[{"id":4625,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3994\/revisions\/4625"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}