{"id":43620,"date":"2024-06-14T14:12:10","date_gmt":"2024-06-14T08:42:10","guid":{"rendered":"https:\/\/itatonline.org\/digest\/spicejet-ltd-v-add-cit-2023102-itr-58-delhitrib-7\/"},"modified":"2024-06-14T14:12:10","modified_gmt":"2024-06-14T08:42:10","slug":"spicejet-ltd-v-add-cit-2023102-itr-58-delhitrib-7","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/spicejet-ltd-v-add-cit-2023102-itr-58-delhitrib-7\/","title":{"rendered":"Spicejet Ltd. v. Add. CIT (2023)102 ITR 58 (Delhi)(Trib)"},"content":{"rendered":"<p>Held that\u00a0 the assessee had not amortised the expenditure in its books. The Assessing Officer did not dispute the nature of expenditure as revenue. The entire expenditure was allowable.\u00a0 In the assessment year 2006-07, the Assessing Officer had himself allowed the premium payable on redemption of the bonds as revenue expenditure ; hence, the assessee&#8217;s claim to deduction thereon had to be allowed. Relied on,Taparia Tools Ltd. v. JT. CIT (2015) 372 ITR 605 (SC)\u00a0 ASST. CIT v. Ashima Syntex Ltd (2009) 310 ITR (A.T) 1 (Ahd) (SB)(Trib). Order of CIT(A) affirmed. \u00a0<em>(<\/em>AY. 2006-07 to 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1):  Business expenditure-Foreign currency convertible bonds-Not amortising expenses in books-Revenue nature allowable as deduction-Premium payable on redemption of bonds-Allowable as deduction.  <\/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-43620","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bly","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43620","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=43620"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43620\/revisions"}],"predecessor-version":[{"id":43621,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43620\/revisions\/43621"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=43620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=43620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=43620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}