{"id":45279,"date":"2024-08-16T09:58:21","date_gmt":"2024-08-16T04:28:21","guid":{"rendered":"https:\/\/itatonline.org\/digest\/chennai-container-terminal-p-ltd-v-dy-cit2023-108-itr-147-154-taxmann-com-68-mumtrib-3\/"},"modified":"2024-08-16T09:58:21","modified_gmt":"2024-08-16T04:28:21","slug":"chennai-container-terminal-p-ltd-v-dy-cit2023-108-itr-147-154-taxmann-com-68-mumtrib-3","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/chennai-container-terminal-p-ltd-v-dy-cit2023-108-itr-147-154-taxmann-com-68-mumtrib-3\/","title":{"rendered":"Chennai Container Terminal P. Ltd v.Dy.CIT(2023) 108 ITR 147 \/ 154 taxmann.com 68 (Mum)(Trib)"},"content":{"rendered":"<p><strong>\u00a0<\/strong><\/p>\n<p>Held that once a subsidy is categorized as capital in nature and not chargeable to tax under normal provision of Act, same lies outside purview of Act and cannot form part of taxable profit.Therefore, where assessee had declared SFIS subsidy as an additional income without reducing value of subsidy in cost of assets, issue is\u00a0\u00a0 remitted to Assessing Officer to determine book profit under section 115JB. (AY. 2008-09, 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 115JB : Company-Book profit-Subsidy-Capital in nature-Not chargeable to tax and not in the nature of income-Cannot form part of book profit.[S. 4]  <\/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-45279","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bMj","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45279","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=45279"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45279\/revisions"}],"predecessor-version":[{"id":45280,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/45279\/revisions\/45280"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=45279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=45279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=45279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}