{"id":43232,"date":"2024-06-07T19:41:30","date_gmt":"2024-06-07T14:11:30","guid":{"rendered":"https:\/\/itatonline.org\/digest\/leo-edibles-fats-ltd-v-acit-it-2023-199-itd-277-hyd-trib\/"},"modified":"2024-06-07T19:41:30","modified_gmt":"2024-06-07T14:11:30","slug":"leo-edibles-fats-ltd-v-acit-it-2023-199-itd-277-hyd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/leo-edibles-fats-ltd-v-acit-it-2023-199-itd-277-hyd-trib\/","title":{"rendered":"Leo Edibles &#038; Fats Ltd. v. ACIT (IT) (2023) 199 ITD 277 (Hyd) (Trib.)"},"content":{"rendered":"<p>Held that whether hedging transaction in edible oils was against another hedging transaction in coal or it was to guard against risk of merchandise in stock falling in value. Matter remanded,\u00a0\u00a0 CBDT Circular No. 23 (XXXIX-4). As regards bad debts\u00a0 the matter was to be restored to Assessing Officer for verification as to whether assessee offered such an amount in earlier years as income and this amount was properly written off in account books. (AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43(5) : Speculative transaction-Hedging transactions-Trading in edible oils-Connected commodities-Bad debt-Receivable from high seas transactions-Matter remanded.  [S. 36(1)(vii)] <\/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-43232","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bfi","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43232","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=43232"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43232\/revisions"}],"predecessor-version":[{"id":43233,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43232\/revisions\/43233"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=43232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=43232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=43232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}