{"id":42978,"date":"2024-05-18T22:13:36","date_gmt":"2024-05-18T16:43:36","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-asian-paints-ltd-2023-335-ctr193-2024-296-taxman-74-sc-editorial-refer-asian-paints-ltd-v-acit-2023-149-taxmann-com-183-bomhc\/"},"modified":"2024-05-26T11:57:59","modified_gmt":"2024-05-26T06:27:59","slug":"acit-v-asian-paints-ltd-2023-335-ctr193-2024-296-taxman-74-sc-editorial-refer-asian-paints-ltd-v-acit-2023-149-taxmann-com-183-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-asian-paints-ltd-2023-335-ctr193-2024-296-taxman-74-sc-editorial-refer-asian-paints-ltd-v-acit-2023-149-taxmann-com-183-bomhc\/","title":{"rendered":"ACIT v. Asian Paints Ltd. (2023) 335 CTR 113  \/ (2024) 296 Taxman 74 (SC) Editorial : Refer , Asian Paints Ltd. v. ACIT (2023) 149 taxmann.com 183 (Bom)(HC)"},"content":{"rendered":"<p>High \u00a0Court held that the assessee-company had filed all requisite details called for by Assessing Officer against its claim of advertisement and sales promotion expenses incurred in a marketing scheme and Assessing Officer during scrutiny assessment had duly applied his mind before allowing same as deduction under section 37(1), it could not be said that there was any failure on part of assessee to disclose fully and truly facts which were material and necessary for assessment. Reassessment notice and order disposing the objection was quashed. SLP of revenue is dismissed . \u00a0(AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.147: Reassessment \u2013 After the expiry of four years -Advertisement and sales promotion -No failure to disclose material facts \u2013 Reassessment notice and order disposing the objection was quashed \u2013 SLP of Revenue is dismissed . [ S. 37(1), 148, Art. 136 ]<\/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-42978","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bbc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42978","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=42978"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42978\/revisions"}],"predecessor-version":[{"id":43109,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42978\/revisions\/43109"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=42978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=42978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=42978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}