{"id":50769,"date":"2025-02-08T14:29:49","date_gmt":"2025-02-08T08:59:49","guid":{"rendered":"https:\/\/itatonline.org\/digest\/inditrade-capital-ltd-v-cit-2024-301-taxman-638-ker-hc-3\/"},"modified":"2025-02-08T14:29:49","modified_gmt":"2025-02-08T08:59:49","slug":"inditrade-capital-ltd-v-cit-2024-301-taxman-638-ker-hc-3","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/inditrade-capital-ltd-v-cit-2024-301-taxman-638-ker-hc-3\/","title":{"rendered":"Inditrade Capital Ltd. v. CIT (2024) 301 Taxman 638 (Ker.)(HC)"},"content":{"rendered":"<p><strong>\u00a0<\/strong>Assessee-company incurred certain expenditure in relation to professional and consultancy charges and claimed deduction of same as revenue expenditure. Assessing Officer treated expenditure as capital expenditure and disallowed same. Tribunal affirmed the order of the Assessing Officer. On appeal the Tribunal held that\u00a0 since nature of services that were provided by consultant showed that expenses were incurred in connection with obtaining benefits that were of an enduring nature, expenditure is\u00a0 capital in nature.(AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Capital or revenue-Professional and consultancy charges-Enduring nature, expenditure is  capital in nature-Order of Tribunal is affirmed.[S.260A] <\/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-50769","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dcR","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50769","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=50769"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50769\/revisions"}],"predecessor-version":[{"id":50770,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50769\/revisions\/50770"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}