{"id":4363,"date":"2019-03-12T10:52:05","date_gmt":"2019-03-12T10:52:05","guid":{"rendered":"http:\/\/itatonline.org\/digest\/dy-cit-v-bch-electric-ltd-2018-63-itr-58-sn-kol-trib-3\/"},"modified":"2019-03-12T10:52:05","modified_gmt":"2019-03-12T10:52:05","slug":"dy-cit-v-bch-electric-ltd-2018-63-itr-58-sn-kol-trib-3","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-bch-electric-ltd-2018-63-itr-58-sn-kol-trib-3\/","title":{"rendered":"Dy.CIT v. BCH Electric Ltd. (2018) 63 ITR 58 (SN) (Kol.)(Trib.)"},"content":{"rendered":"<p>The assessee made provision for non-moving inventory and claimed the provision as deduction in the return. The AO observed that the provision represented un-crystallised and unascertained liability debited to the profit and loss account not allowable as expenses under the provisions of the Act. The ITAT held, that the consistent treatment given by the assessee from year to year with regard to the treatment of provision for non-moving inventory in the return therefore the said disallowance is not sustainable. (AY. 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure \u2014 Provision for non-moving inventory \u2014 consistent treatment from year to year in return, allowable for deduction. [S. 145 ]<\/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":[1],"tags":[],"class_list":["post-4363","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-18n","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4363","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=4363"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4363\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}