{"id":54698,"date":"2025-06-02T16:35:15","date_gmt":"2025-06-02T11:05:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-hespera-reality-p-ltd-2025-342-ctr-241-245-dtr-1-303-taxman-154-delhihc\/"},"modified":"2025-06-02T16:35:15","modified_gmt":"2025-06-02T11:05:15","slug":"pcit-v-hespera-reality-p-ltd-2025-342-ctr-241-245-dtr-1-303-taxman-154-delhihc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-hespera-reality-p-ltd-2025-342-ctr-241-245-dtr-1-303-taxman-154-delhihc\/","title":{"rendered":"PCIT v. Hespera Reality (P) Ltd. (2025) 342 CTR 241 \/ 245 DTR 1 \/ 303 Taxman 154 (Delhi)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the Revenue the Court held that proviso to s. 10(38) cannot be read in the reverse to mean that if the gains are not included as book profits under S.. 115JB, the same are liable to be included as income for the purposes of assessment to tax under the normal provisions, notwithstanding that the gains are required to be excluded from income chargeable to tax under s. 10(38). (AY.2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45 : Capital gains-Long term  capital gains-Exemption-Book profit-Exclusion of capital  gains from calculations of book profits  would not disentitle it from claiming exemption under section 10(38).[S. 10(38), 115JB(2),  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-54698","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eee","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54698","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=54698"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54698\/revisions"}],"predecessor-version":[{"id":54699,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54698\/revisions\/54699"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}