{"id":54340,"date":"2025-05-18T23:06:17","date_gmt":"2025-05-18T17:36:17","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-kesar-terminals-and-infrastructure-ltd-2024-bcas-june-p-41-mum-trib\/"},"modified":"2025-05-18T23:06:17","modified_gmt":"2025-05-18T17:36:17","slug":"acit-v-kesar-terminals-and-infrastructure-ltd-2024-bcas-june-p-41-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-kesar-terminals-and-infrastructure-ltd-2024-bcas-june-p-41-mum-trib\/","title":{"rendered":"ACIT v. Kesar Terminals and Infrastructure Ltd ( 2024 ) BCAS \u2013 June -P. 41 ( Mum)( Trib)"},"content":{"rendered":"<p>Held that\u00a0 tax\u00a0 notional income\u00a0 credited to profit and loss account in compliance of Indian Accounting standard (Ind AS)\u00a0 cannot be assessed as real income in absence of contractual obligation of repayment . (AY. 2018-19) ( ITA No. 3001 dt . 8 -3 -2024 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax \u2013 Notional income \u2013 Credited to profit and loss account \u2013 Accounting standard (Ind AS) \u2013 Cannot be assessed as real income .[ S. 143(1)(a),  154 ] <\/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-54340","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-e8s","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54340","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=54340"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54340\/revisions"}],"predecessor-version":[{"id":54341,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54340\/revisions\/54341"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}