{"id":53950,"date":"2025-05-10T10:23:34","date_gmt":"2025-05-10T04:53:34","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-man-prakash-talkies-p-ltd-2024-232-ttj-673-38-nypttj-1272-jaipurtrib\/"},"modified":"2025-05-10T10:23:34","modified_gmt":"2025-05-10T04:53:34","slug":"dy-cit-v-man-prakash-talkies-p-ltd-2024-232-ttj-673-38-nypttj-1272-jaipurtrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-man-prakash-talkies-p-ltd-2024-232-ttj-673-38-nypttj-1272-jaipurtrib\/","title":{"rendered":"Dy.CIT v. Man Prakash Talkies (P) Ltd (2024) 232 TTJ 673 \/ 38 NYPTTJ 1272 (Jaipur)(Trib)"},"content":{"rendered":"<p>Held that the Assessee-company engaged in the business of exhibiting films in a cinema hall handed over the land owned by it to the developer for the purpose of construction of a commercial complex in place of the cinema hall which did not tantamount to conversion of capital asset into stock-in-trade, more so as the constructed shops received by the assessee in the new commercial complex have been consistently shown under the head &#8216;Investment&#8217; and, therefore, provisions of s. 45(2) are not applicable. Order of CIT(A) is affirmed. (AY.2008-09,\u00a0 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45(2) : Capital gains-Conversion of a capital asset in to stock-in-trade-Investment-Contribution of land to developer for construction of commercial complex in place of cinema hall-CIT(A) was justified in holding that invocation of S. 45(2) by the AO was not sustainable. [S. 45]<\/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-53950","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-e2a","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53950","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=53950"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53950\/revisions"}],"predecessor-version":[{"id":53951,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53950\/revisions\/53951"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=53950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=53950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=53950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}