{"id":55947,"date":"2025-08-16T10:25:58","date_gmt":"2025-08-16T04:55:58","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-bsifs-p-ltd-2025-303-taxman-584-474-itr-208-sc-editorial-bsifs-p-ltd-v-acit2024-161-taxmann-com-443bomhc\/"},"modified":"2025-08-16T10:25:58","modified_gmt":"2025-08-16T04:55:58","slug":"acit-v-bsifs-p-ltd-2025-303-taxman-584-474-itr-208-sc-editorial-bsifs-p-ltd-v-acit2024-161-taxmann-com-443bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-bsifs-p-ltd-2025-303-taxman-584-474-itr-208-sc-editorial-bsifs-p-ltd-v-acit2024-161-taxmann-com-443bomhc\/","title":{"rendered":"ACIT v. BSIFS (P.) Ltd. (2025) 303 Taxman 584 \/ 474 ITR 208 (SC) Editorial : BSIFS (P.) Ltd v. ACIT(2024) 161 taxmann.com 443(Bom)(HC)"},"content":{"rendered":"<p>The assessee\u2019s share trading loss was assessed as business loss in scrutiny under s. 143(3). Reopening beyond four years to recharacterize it as speculation loss under the Explanation to s. 73 was held invalid since the issue had been considered in the original assessment and no allegation of failure to disclose was made. The Supreme Court dismissed the Revenue\u2019s SLP, upholding the High Court\u2019s order. (AY 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment-After the expiry of four years-Loss in speculation business-No failure to disclose material facts-SLP dismissed [S. 73, 143(3), 148, Art. 226]<\/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-55947","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eyn","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55947","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=55947"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55947\/revisions"}],"predecessor-version":[{"id":55948,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55947\/revisions\/55948"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}