{"id":42263,"date":"2024-05-04T14:22:25","date_gmt":"2024-05-04T08:52:25","guid":{"rendered":"https:\/\/itatonline.org\/digest\/bombay-transport-co-operative-consumer-society-ltd-v-ito-2023101-itr-72-sn-mum-trib\/"},"modified":"2024-05-04T14:22:25","modified_gmt":"2024-05-04T08:52:25","slug":"bombay-transport-co-operative-consumer-society-ltd-v-ito-2023101-itr-72-sn-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/bombay-transport-co-operative-consumer-society-ltd-v-ito-2023101-itr-72-sn-mum-trib\/","title":{"rendered":"Bombay Transport Co-Operative Consumer Society Ltd. v. ITO (2023)101 ITR 72 (SN) (Mum) (Trib)"},"content":{"rendered":"<p>Held that Assessing Officer \u00a0did not inquire about the loss on assets disposed of or any expenditure debited in the P &amp; L account. Further, A.ssessing Officer \u00a0was duty bound to look at the P &amp; L account and disallow expenditure which was not of revenue in nature. Thus, the revision of PCIT was justified. (AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner-Revision of orders prejudicial to revenue-Failure of Assessing Officer  to inquire loss on disposal of assets\/expenditure-Assessing Officer  duty bound to disallow expenditure which is not of revenue expenditure in P &amp; L account-Revision  is justified.[S. 37(1)] <\/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-42263","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-aZF","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42263","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=42263"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42263\/revisions"}],"predecessor-version":[{"id":42264,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42263\/revisions\/42264"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=42263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=42263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=42263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}