{"id":43472,"date":"2024-06-09T10:56:54","date_gmt":"2024-06-09T05:26:54","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cholamandalam-investment-and-finance-co-ltd-v-asst-cit-2023102-itr-685-chennai-trib\/"},"modified":"2024-06-09T10:56:54","modified_gmt":"2024-06-09T05:26:54","slug":"cholamandalam-investment-and-finance-co-ltd-v-asst-cit-2023102-itr-685-chennai-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cholamandalam-investment-and-finance-co-ltd-v-asst-cit-2023102-itr-685-chennai-trib\/","title":{"rendered":"Cholamandalam Investment and Finance Co. Ltd. v. Asst. CIT (2023)102 ITR 685 (Chennai)( Trib)"},"content":{"rendered":"<p>Held that\u00a0 the Assessing Officer had arrived at an estimated income applying the present value factor on future estimated earnings, the receipt of which was uncertain. This methodology was not recognised under the Act and only real income had to be assessed to tax. Consistence method followed by the assessee is directed to be accepted .<em>(<\/em> AY.2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 145: Method of  accounting \u2014 Securitisation transactions \u2014 Sale to special purpose vehicle against lump sum consideration equal to book value &#8211; Offering excess interest spread to tax on proportionate basis as and when accruing over tenure &#8211;  Method accepted by Revenue \u2014 Rule of  consistency \u2014Addition is deleted \u2013 Real income to be assessed .   <\/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-43472","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bja","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43472","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=43472"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43472\/revisions"}],"predecessor-version":[{"id":43473,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43472\/revisions\/43473"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=43472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=43472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=43472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}