{"id":51303,"date":"2025-02-19T11:23:18","date_gmt":"2025-02-19T05:53:18","guid":{"rendered":"https:\/\/itatonline.org\/digest\/bundy-india-ltd-v-dy-cit-2024113-itr-505-ahdtrib\/"},"modified":"2025-02-19T11:23:18","modified_gmt":"2025-02-19T05:53:18","slug":"bundy-india-ltd-v-dy-cit-2024113-itr-505-ahdtrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/bundy-india-ltd-v-dy-cit-2024113-itr-505-ahdtrib\/","title":{"rendered":"Bundy India Ltd. v. Dy. CIT (2024)113 ITR 505 (Ahd)(Trib)"},"content":{"rendered":"<p>Held that the assessee-company was not treating jigs and fixtures as revenue expenditure in its books of account but was writing off the expense over a period of two years since it derived long-term enduring benefit from them. As a result, the decision of the Commissioner (Appeals) to treat the expenditure as capital expenditure and allow depreciation on the brought-forward written-down value is upheld. (AY. 2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Capital or revenue-Depreciation-Manufacturing concern-Expenditure on Jigs and Fixtures-Written off over two years-Capital in nature-Entitled to depreciation. [S. 32] <\/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-51303","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dlt","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51303","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=51303"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51303\/revisions"}],"predecessor-version":[{"id":51304,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51303\/revisions\/51304"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}